NFTs Are Fueling a Boom in Digital Art. Here’s How They Work | WSJ

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Published 2021-03-11
Non-fungible tokens, or NFTs, have exploded onto the digital art scene this past year. Proponents say they are a way to make digital assets scarce, and therefore more valuable. WSJ explains how they work, and why skeptics question whether they’re built to last. Photo Illustration: Jacob Reynolds/WSJ

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All Comments (21)
  • @rwdplz1
    Everyone saying 'I don't get it': No, it REALLY is that stupid.
  • @reggie9595
    It's just funny to me, the thought of someone having a TV set up in their mansion just to specifically play the Nyan Cat GIF on loop, then a bunch of their rich friends gather around it with their wines and cigars as they listen to the owner explain how much they spent on it lol
  • I found out if you want to be really successful in this you need to find someone who really understands the in and out of how it all works
  • @sutats
    Would be interesting to see an expert explaining an NFT in 5 levels of difficulty.
  • @CalumO94
    Have NFTs exploded because we’ve been in lockdown for a year and we have nothing else left to buy so now we’re buying JPEG’s and gifs?!
  • @maryt9251
    This is something I find very intriguing and keen to look into , my cousin tells me a lot about it but It doesn’t change the fact that I am a newbie , I need to learn guys
  • I believe this future is now and we all need to find a way to adapt to everything that’s going on, I would really like to be kept updated so any sort of help is great
  • step 1: assign value where there is none and give rich people the opportunity to hoard content step 2: step 3: profit
  • @zenvagabond
    NFTs = the next level of when wealth and ignorance collide.
  • @Calebjunioir
    I have been on stocks for quite a while now and it’s been going well , but I would also like to find a new place to expand you know what I mean?
  • @ElJuanSolo
    After watching this I realized that I’m old and grateful that I still work with simple concepts that don’t need a video to explain.
  • @diedforurwins
    The difference is the certified version of nyancat looks no different from a copy. copying each stroke of the original mona lisa however is virtually impossible... That makes the original a different thing to behold vs a gif and gives it value. The NFT boom and fomo will fizzle.
  • @EricShoe
    This is like buying a deed for land on the moon. It doesn’t have value in the real world. Makes no sense.
  • @veramonique1724
    Investing in the stock market is the best option to make a passive income. Virtually all the markets are crazy, most people pay more attention to the shiniest position on the graph, I’m keeping a diversified portfolio.
  • @bingusbinted
    Why is everyone so hyped about this? They literally steal art all around twitter and plagiarize artist's works and sell them for $80k. This is disheartening
  • @cash_eye
    I'm 21 but this video made me feel like I'm too old for the internet I understand nothing in this video now I understand how my grandparents feel
  • @mason9146
    This is cool but also art theft is about to become huge, it’s already booming from random people converting artists’ work to nfts WITHOUT their permission. The nft sells, the artist gets absolutely nothing while the thief gets bank