US$6 Million for Digital Art? Here’s What You Need to Know About NFTs.

If you’ve ever been on the internet in the past 10 years, you will have come across the iconic meme of the grey feline with a Pop-Tart body zooming through space, or better known as Nyan Cat. Well, that GIF has just been auctioned off for a whopping US$590,000 by the meme’s creator.


<p>(source: Businessinsider)</p>

<p>How did a free and publicly accessible meme get sold for a fortune? The answer is through NFTs, or the newest cryptocurrency craze – a one-of-a-kind digital asset that cannot be replicated or replaced.</p>

<p>Despite being released in 2017, NFT’s have exploded  in popularity the past couple months, with collectors, creators, and investors scrambling to get in on the virtual items that only exist online.</p>

<p>So, what exactly is an NFT, and why now? Read on for the low-down on the crypto buzz.</p>

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