Blockchain Bites: Why Buy an NFT?

Blockchain Bites: Why Buy an NFT?


Digital friction
Nonfungible tokens (NFT) are having a moment. In recent weeks, notable investors Mark Cuban and Chamath Palihapitiya have signaled their growing interest in this corner of the crypto economy, adding fuel to a rally that was already red-hot. 

It’s tough to measure the size of the total NFT market due to how these tokens are structured. Each NFT is a non-replicable digital asset. Because there’s only ever one NFT, each asset is essentially its own market. The total value of NFT-based crypto art is now above $100 million, according to CryptoArt.io, which tracks the largest platforms dedicated to art sales.

This article is excerpted from Blockchain Bites, a daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full newsletter here. 

The technology isn’t limited to creating digital signatures on works of art, but has applications across anything online that needs to be

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