Everything about non-fungible tokens in one infographic

The billion-dollar non-fungible token (NFT) market is growing in popularity. But not everyone knows what exactly is behind NFT. An infographic on the topic clarifies.

To understand how big the hype about so-called non-fungible tokens (NFT) really is, one only needs to juxtapose two numbers: 13.7 million and 2.5 billion US dollars. The sum in the millions is the NFT sales in the first half of 2020, the billions in NFT sales in the same period one year later. And: In August 2021, almost another two billion dollars should have been implemented.

No wonder that such a lucrative market attracts new investors. In the meantime, not only well-off crypto insiders have jumped on the bandwagon. Corporations like Facebook, Tiktok or Twitter also want to play in the NFT universe.

Anyone who is not yet there should be primarily interested in what non-fungible tokens actually are. Unlike exchangeable tokens that represent cryptocurrencies, non-fungible tokens represent a very concrete asset. This makes you unique. NFT are currently most widespread in the areas of crypto art and digital collectibles.

Various examples from the past few months show what income is possible with NFT. The first major stir in March was the sale of the NFT artwork “Everydays: The First 5,000 Days” by digital artist Beeple, which fetched over 69 million dollars at auction. NFT collections in the pixel art sector can bring in millions of dollars in a matter of weeks. Meanwhile, there is criticism – as with Bitcoin – of the lack of environmental friendliness. It can also lead to forgeries.

More about the basics of NFT, the importance of non-fungible tokens in the fast-growing crypto world and more information about how it all works is shown in a via Socialmediatoday common infographic.

Click on the preview image below to open the complete NFT infographic: