Cryptocurrency. Chances are you’ve heard of this digital form of money, and may have heard of the phrase, “Non Fungible Tokens” or “NFTs.” You may have also read about people making thousands — even millions — of dollars by buying and selling NFTs on various digital marketplaces.
You may be wondering, what the hell is an NFT?
To be honest, I still don’t fully understand how NFTs function, how their value is determined, or if they are a viable long-term investment.
According to Forbes, “An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.”