So you bought an NFT? Doesn’t mean you also own it

So you bought an NFT? Doesn’t mean you also own it


NFT’s or non-fungible tokens to start with captured the general public imagination when a electronic collage by an artist named Beeple offered for US$69 million (£51 million) at Christie’s in March 2021. Because then, there has been an explosion in the use of these units for storing digital articles, which are bought and sold employing on line ledgers acknowledged a blockchains.

Since that preliminary link with artwork, we are observing NFT’s being applied in various other approaches. Notably, a lot of are getting traded as collectibles on exchanges like OpenSea and Rarible. Lately, for case in point, a sequence of 8,888 adorable “Pudgy Penguins” manufactured a splash, each individual reflecting its very own exceptional attribute, with one particular promoting for a file 150 ethereum (about US$500,000).