The beauty of the crypto market is that it is always on the move and nothing ever stays still. The crypto market is dominated by cryptocurrencies such as Bitcoin and ETH but these aren’t the only things that are grabbing the attention of investors in the crypto space.
Non Fungible Tokens or NFTs are grabbing the attention of every investor and crypto enthusiast. Since last year, NFTs have blown up and they are creating new records for themselves in 2022.
The monthly volume of OPENSEA crossed $5 billion in January this year and a new marketplace, LooksRare saw million-dollar transactions in its first month of inception. This shows how the NFTs are growing in popularity and the interesting investment opportunities they offer.
What are Non-Fungible Tokens?
Non Fungible Tokens or NFTs are one-of-a-kind digital assets that are stored on blockchains. These digital assets are unique and no two NFTs can ever be the same which means that establishing their proof of ownership on the blockchain becomes very easy.
The real and the virtual worlds are coming ever so close, and NFTs are going to play a big role in bridging the gap that remains. Any real-world or digital asset can be tethered to an NFT, thus we can now associate real-world items with digital environments.
