Cryptocurrency - What Is Non Fungible Token?

Non Fungible Tokens, known as NFTs, are the hottest craze in the cryptocurrency world. But what are they? With a multibillion-dollar market cap, why do people pay hundreds of thousands of dollars, and in some cases, millions for digitally stored avatars, pictures, art, GIFs, tokens (and the list goes on)? Kevin Roose covers NFTs, crypto, AI and social media as a columnist for The New York Times. In 2021, a PNG of his NYT column sold for over $500,000. He joins to discuss the value proposition of blockchain-based assets, the role of scarcity and speculation in determining value and the future of cryptographic assets in a metaverse focused future.