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Everyday Technology: What're NFTs? How are they different from cryptocurrency?
Non fungible tokens (NFTs) have, thanks to their ability to assign value to sets from art to music to an easy selfie, taken the planet by storm.

The sales of NFTs surged $25 billion in 2021 since 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 really are a bubble that might pop.

Non-fungible tokens (NFTs) seem to possess 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 millions of dollars.

But are NFTs worth the money—or the hype? Some experts say they're a bubble poised to pop, just like the dotcom craze or Beanie Babies. Others believe NFTs are here to stay, 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're bought and sold online, frequently with cryptocurrency, and they're generally encoded with the same underlying software as much cryptos.

Although they've been with us since 2014, NFTs are gaining notoriety now as they are becoming an increasingly popular way to get and sell digital artwork. A staggering $174 million has been spent on NFTs since November 2017.

NFTs may also be generally certainly one of a form, or at least one of a very 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 almost always infinite in supply. Hypothetically, cutting off the supply should improve the value of certain asset, assuming it's in demand.
Read More: https://canvas.instructure.com/eportfolios/1105971/Home/Modern_Fad_Or_Just_a_Way_to_Make_Money_Are_the_NFTs_Digital_Assets_a_
     
 
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