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NFTs can be an alternate revenue source for creators. So, what’s the downside?
This year has been a whirlwind of financial news that requires explanation. I’m sure most of us rewatched The Big Short during the Gamestop short squeeze fiasco a few months back, and then there was the cryptocurrency meme DogeCoin, which made some waves. That’s tired. What’s wired now are non-fungible tokens (NFTs).
Their seemingly-overnight meteoric rise in popularity has confounded many, including myself, begging the question: What are NFTs? Are they a cryptocurrency, a form of digital media, a speculative asset? The answers are no, kind of, and yes.