Move over, GameStop. The newest speculative game in town is NFTs — digital files that can be owned and traded on a plethora of new online platforms.

By Felix Salmon

“Why it matters: Most NFTs include some kind of still or moving image, which makes them similar to many physical art objects. Some of them, including a gif of Nyan Cat flying through the sky with a pop-tart body and rainbow trail, can be worth more than your house.

How it works: Most crypto assets are like dollars, or stocks: They’re fungible, which means that one bitcoin, or share of IBM, is worth exactly the same as any other bitcoin, or share of IBM. NFTs, by contrast, are non-fungible tokens: They’re unique objects that live on a blockchain and are valued as collectors’ items.”

Source: Axios