News > Factbox: What are NFTs and who’s cashing in on them?

Factbox: What are NFTs and who’s cashing in on them?

Dais Newsfeed | 13/03/2021 08:59 AM | Click to read full article

NFTs are all the buzz this year, with people raking in millions by auctioning these digital assets. Digital artist Beeple sold artwork for nearly $70 million at Christie’s on Thursday and Twitter Inc boss Jack Dorsey is auctioning his first-ever tweet as an NFT with the top bidder willing to pay $2.5 million for it.

NFT enthusiasts hope these digital assets will retain value because it is possible to distinguish the original work from copies. They compare it to the original Mona Lisa painting at the Louvre Museum, which is unique and priceless.