Time to learn about NFTs


 

Jack Dorsey is offering to sell the world’s first tweet as an NFT. So far, the highest bid is $2.5 million. Are you ready to bid on your first non-fungible token? Welcome to the world of crypto collectibles, where you can purchase a piece of unique, digital content that is guaranteed to be authentic and, theoretically, can’t be duplicated.

To create an NFT, ownership of the content is stored on a blockchain using tech similar to the tech used for cryptocurrencies. Anyone can do it, and just about everyone is doing it: recording artists, fine artists, performance artists, video artists… and the prices being paid border on insane.

Recently, the CryptoPunk called “ape in a fedora” sold for more than $1.5 million. Some Hashmasks on Ethereum have sold for between $300,000-$500,000.

Are NFTs a parlor trick or a paradigm shift? I want to know what you think. Let me know below.

 

 

What do you think of NFTs?

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Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.

About Shelly Palmer

Shelly Palmer is a business advisor and technology consultant. He helps Fortune 500 companies with digital transformation, media and marketing. Named LinkedIn's Top Voice in Technology, he is the host of the Shelly Palmer #strategyhacker livestream and co-host of Techstream with Shelly Palmer & Seth Everett. He covers tech and business for Good Day New York, writes a weekly column for Adweek, is a regular commentator on CNN and CNBC, and writes a popular daily business blog. Follow @shellypalmer or visit shellypalmer.com

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