Non-fungible Tokens (NFT) are taking the world by storm. A 319 gig JPEG by the artist Mike Winkelmann, famously known by the mononym Beeple, was sold for a mind-blowing price this week. Now, the word NFT is buzzing all over the internet. Non-fungible tokens are blockchain-backed crypto-asset that turns digital art into unique, one-of-a-kind, irreplaceable, non-interchangeable, collectibles that ensure ownership of only one buyer at a time. All the transaction history is kept in the digital ledger. Verifiable digital ownership creates value for the NFTs. From NBA highlights to billionaire Mark Cuban quotes, to the Hollywood artists and the Youtubers, and of course Elon Musk – who hasn’t joined the trend? NFT market value has ballooned from $40 million to more than $330 in just a couple of years. Newer records of selling prices are being set every week. Let’s take a look at what’s going on. Here is a top 5 list of the most expensive NFTs till today- 1. ...
Business analysis, entrepreneurship, and emerging trends — written from an MBA perspective.