People like non-fungible tokens – level 1

12-07-2021 07:00

NFT is a non-fungible token. Non-fungible means that only one thing exists. There are no copies of that thing.

Businesses with NFTs gets very big in 2021. Artists, musicians, and creators sell many NFTs. Some people become very rich. One man sells an image for 69 million dollars. Another person sells a virtual reality house for 520,000 dollars.

These things exist only digitally. The person who buys such things gets a digital certificate. Only he has it. Nobody else in the world can have it.

Some people like to feel special. They pay a lot of money for it.

Difficult words: token (a thing that shows it is for something else), creator (a person who makes something), digital (electronic or related to the Internet), certificate (an official document which shows that the information on it is true).

You can watch the original video in the Level 3 section.

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