You may have seen NFTs in the headlines this year – especially as some have sold for thousands, even millions of dollars.
What are NFTs? How do they work? If you buy one, is your money safe?
Read on for answers to some of your most frequently asked questions.
What are NFTs?
NFT stands for non-fungible token.
Fungible means interchangeable, like regular money. For example, four quarters hold the same value as a dollar bill.
Non-fungible means someone is unique. Non-fungible tokens are digital assets that can be just about anything including art, video or music.
If you create something you want to sell as an NFT,…