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Confused about NFTs? Here's what you need to know - An Overview


<h1 style="clear:both" id="content-section-0">The 5-Minute Rule for What Are NFTs? Non-Fungible Tokens, Explained - CoinCentral<br></h1>
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<p class="p__0">5 million investment, with some cats costing over $100,000 each. Following its success, Crypto, Kitties were contributed to the ERC-721 requirement, which was then completed in January, 2018, and verified using the term "NFT" to describe "non-fungible tokens." In NFT W0rld , Decentraland, a blockchain-based virtual world which initially sold its tokens in August 2017, raised $26 million in an initial coin offering, and had a $20 million internal economy since September 2018.</p>
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<p class="p__1">In 2019, Nike patented a system called Crypto, Kicks that would utilize NFTs to confirm the credibility of physical tennis shoes and provide a virtual version of the shoe to the client. In early 2020, the developer of Crypto, Kitties, Dapper Labs, released the beta version of NBA Top, Shot, a job to sell tokenized antiques of NBA highlights.</p>
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<p class="p__2">Later on that year, the job was released to the public and reported over $230 million in gross sales since February 28, 2021. The NFT market experienced quick development throughout 2020, with its worth tripling to $250 million. In the first 3 months of 2021, more than $200 million were invested in NFTs.</p>
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<h1 style="clear:both" id="content-section-1">The Ultimate Guide To Mapping the NFT revolution: market trends, trade networks<br></h1>
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<p class="p__3">Blockchains such as Ethereum, Circulation, and Tezos established specific requirements to ensure that the digital product represented are authentically unique. NFTs are now being utilized to commodify digital assets in art, music, sports, and other popular entertainment, with the majority of NFTs part of the Ethereum blockchain, while other blockchains can implement their own variations of NFTs.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://cloudfront-us-east-1.images.arcpublishing.com/coindesk/QEY2ZW45ABHM3PPY36IJHWHLGM.jpg" alt="What is NFT? Non-fungible tokens explained - CNN"><span style="display:none" itemprop="caption">What is NFT? - What are NFT Usages? - Adaas Capital</span>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://images.newscientist.com/wp-content/uploads/2021/03/10105315/non-fungible-tokens-nft-2efx290.jpg" alt="What's An NFT? And Why Are People Paying Millions To Buy Them? : NPR"><span style="display:none" itemprop="caption">nft meaning: Digital art: What are Non-fungible tokens(NFT), why are they worth millions? - The Economic Times Video - ET Now</span>
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<p class="p__4">In February 2021, the musician Grimes sold around $6 million worth of tokens representing digital art on Nifty Entrance. Later that month, an NFT representing the meme animation Nyan Feline was sold in a Web marketplace for just under $600,000. On February 28, 2021, electronic dance artist 3LAU sold a collection of 33 NFTs for an overall of $11.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://api.time.com/wp-content/uploads/2021/03/nft-art-2.jpg" alt="What is NFT (Non Fungible Tokens)? Why NFTs are So Popular Today?"><span style="display:none" itemprop="caption">NFTs, explained: what they are, and why they're suddenly worth millions - The Verge</span>
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<p class="p__5">On March 5, 2021, the band Kings of Leon ended up being the very first to sell a newly launched album, When You See Yourself, in the type of an NFT, creating a reported $2 million in sales. On March 11, 2021, American digital artist Beeple's work became the very first NFT art work to be listed at prominent auction house Christie's and offered for $69.</p>
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