News > Is the NFT phenomenon a bubble? Or a new beginning?
Is the NFT phenomenon a bubble? Or a new beginning?
Rediff.com | 21/03/2021 02:40 PM | Click to read full article
Would you pay huge sums for digital artwork, or a photograph, which you can legally view for free — and also download? Some people are prepared to pay huge sums for these “free” goods. Welcome to Non-Fungible Tokens (NFT) — digital constructs authenticated using an abstract mathematical application.
Is the NFT phenomenon a bubble? It’s hard to say. Art and music are very difficult to value, and NFTs tend to fall into that broad category.