On Beeple, Nyan Cat and the latest tech phenom: the non-fungible token, or NFT.

By Kara Swisher

”With NFTs, we’ve come yet another step closer to fully digitizing our lives. Like the internet, they are complex, but in the simplest terms, they are digital files that are stored using a technology called blockchain, which is essentially a digital ledger. But unlike cryptocurrencies, including the well-known Bitcoin, NFTs are not interchangeable with one another, because of their unique digital assets as well as important digital authentication that marks ownership.

The easiest analog comparison many make is to baseball cards, some of which are valuable and some not.

Anything that someone might find valuable that can be digitized can become an NFT — and be sold in any of the many crypto marketplaces. This includes video clips of sports events, tweets to photos and even things like rights to front-row seats at concerts.”

Source: The New York Times