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The Digital NFT Art Craze That's Earning Some Creators Millions


The Digital NFT Art Craze That s Earning Some Creators Millions
Non-fungible tokens have captured the attention of artists and collectors alike with one digital art piece selling this week for nearly $70 million.
By KELVIN CHAN
LONDON (AP) A digital art piece, tweaked using cryptocurrency technology to make it one-of-a-kind, sold at auction this week for nearly $70 million. That transaction made global headlines and buoyed already-mushrooming interest in these kinds of digital objects known as non-fungible tokens, or NFTs that have captured the attention of artists and collectors alike.
A NON-WHAT TOKEN?
In economics jargon, a fungible token is an asset that can be exchanged on a one-for-one basis. Think of dollars or bitcoins each one has the exact same value and can be traded freely. A non-fungible object, by contrast, has its own distinct value, like an old house or a classic car. ....

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