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Everyday Technology: What're NFTs? How are they different from cryptocurrency?
Non fungible tokens (NFTs) have, thanks for their capability to assign value to sets from art to music to a simple selfie, taken the world by storm.

The sales of NFTs surged $25 billion in 2021 as the crypto asset exploded in popularity, fuelled by the rising interest of celebrities and tech evangelists, according to advertise data tracker DappRadar data analytics. However, some experts believe NFTs certainly are a bubble which can pop.

Non-fungible tokens (NFTs) seem to have exploded from the ether this year. From art and music to tacos and toilet paper, these digital assets can sell like 17th-century exotic Dutch tulips—some for an incredible number of dollars.

But are NFTs worth the money—or the hype? Some experts say they're a bubble poised to pop, like the dotcom craze or Beanie Babies. Others believe NFTs are here to keep, and that they will change investing forever.

What Is an NFT?
www.cylogy.com is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with exactly the same underlying software as many cryptos.

Although they've been around since 2014, NFTs are gaining notoriety now because they're becoming an increasingly popular way to purchase and sell digital artwork. A staggering $174 million has been allocated to NFTs since November 2017.

NFTs will also be generally among a form, or a minumum of one of a limited run, and have unique identifying codes. “Essentially, NFTs create digital scarcity,” says Arry Yu, chair of the Washington Technology Industry Association Cascadia Blockchain Council and managing director of Yellow Umbrella Ventures.

This stands in stark contrast to most digital creations, which are more often than not infinite in supply. Hypothetically, cutting off the supply should raise the value of a given asset, assuming it's in demand.
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