NFT

Non-fungible tokens (NFTs) are unique digital assets that are generally used to represent works of art and collectibles. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files.

You can use various currencies to buy NFTs. Most platforms require you to buy using some form of cryptocurrency. Many individual NFTs sell for upwards of $1M each. With NFTs, artwork can be "tokenised" to create a digital certificate of ownership.

Each NFT can be bought and sold, just like physical assets, but the blockchain allows for the ownership and validity of each to be tracked. An NFT is unique and can't be exchanged like-for-like (hence, non-fungible).

Quantum is the first NFT ever. The history of NFTs and the man who first created one, Kevin McCoy, began on May 3rd, 2014. He minted his non-fungible token “Quantum," way before the crypto art market exploded.

The largest NFT was made by Mike Winkelmann, and was bought by Vignesh Sundaresan, a Tamil Nadu immigrant, for $69.3 million in an auction conducted by auction house Christie's.