Technology Magazine April 2021 | Page 10

BIG PICTURE

Non-fungible token artworks sells for millions

Texas , US

NFTs ( which some have taken to pronouncing “ nifties ”) have exploded onto the scene in the last month . Simply put , NFTs are digital items backed by blockchain technology . While being based on the same technology as cryptocurrencies , each token is unique and noninterchangeable . The appeal of the technology to art collectors is obvious , giving ephemeral digital possessions the exclusivity of real-world art objects . The pictured example “ Hashmask 15753 ” was released into the public domain by its owner .
10 April 2021