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Remind me, what are NFTs again?
Non-fungible tokens (NFTs), also known as “nifties” in some corners, are a special type of digital asset. While NFTs can either be unique or come in limited editions, they all have digital scarcity as a core component. In comparison, Bitcoin (BTC), with 21 million coins to be mined, is a fungible token and 1 BTC has the same value as another 1 BTC. In other words, unlike BTC and typical tokens in the crypto industry, the exact NFT you own matters, as each of them is unique or provably scarce.
NFTs have opened up a trove of intellectual property to monetization. For example, marketplace Terra Virtua has launched NFTs that are presented in 3D, with animations and audio for movie franchises such as The Godfather. While the film industry’s attention to NFTs may be increased due to the death of ticket