"Do you really know?" is Bababam's daily podcast, which helps you understand the words, acronyms, and concepts that are making the news every day. From January 3th to 17th, discover the 15 words that will mark 2022. From the new phenomenon of "space tourism" to the virtual world of "Metaverse" and, of course, the expression "wokeism", (re)discover these words that will be in the news in 2022.
What are NFTs?
NFTs are the talk of the town in early November 2021. Quentin Tarantino is auctioning off NFTs of unedited scenes from "Pulp Fiction". It’s one of the latest crazes in the world of blockchain. Non-fungible tokens are digital certificates of ownership, which state who owns a piece of virtual crypto-art. That’s right, you can now buy collectible digital art, like memes, GIFs, videos and even tweets, all thanks to NFTs. NFTs emerged in 2017, as part of the Ethereum cryptocurrency blockchain. You’ve most likely heard of bitcoin and blockchain before. Well, NFTs are based on the same technology.
So are NFTs cryptocurrency then? What are the advantages of using the blockchain? Why would anyone spend millions on something that can be copied endlessly and can’t even be hung up on their wall? In under 3 minutes, we answer your questions!
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