NFTs have been present since 2014 but are gaining much traction now.
A staggering $174 million has been spent on NFTs since November 2017.
Famous digital artist Mike Winklemann, better known as “Beeple” crafted a composite of 5,000 daily drawings to create perhaps the most famous NFT of the moment, “EVERYDAYS: The First 5000 Days,” which sold at Christie’s for a record-breaking $69.3 million.
Twitter co-founder Jack Dorsey sold his first ever tweet as an NFT for more than $2.9 million.
An animated Gif of Nyan Cat – a 2011 meme of a flying pop-tart cat – sold for more than $500,000 (£365,000).
