1 . You may have recently heard of NFT technology, which permits digital works of art to be collected and sold for millions of dollars.

But why would people pay so much money for something they cannot even touch? And what is driving the current rise in NFTs?     1    

What is an NFT?

NFT stands for non-fungible token(非同质化代币).     2     It is based on a technology called blockchain (区块链), which is also used with digital currency systems known as cryptocurrency.

What kinds of things are NFTs?

    3     They are usually bought with electronic money. The form of digital currency mainly used with NFTs is called ether. NFTs have been used to sell sports videos, pieces of land in worlds that only exist on computers and even the first-ever tweet by Twitter's founder.

What do critics say about NFTs?

Critics note that traditional art, like a painting, can be placed on a wall and looked at.     4     They point out that even though an artist can “own” a digital piece, others can easily save a copy of the same work as a file on their computer.

What are some prices for NFTs?

In February, a 10-second video showing an image of former U. S. President Donald Trump sold on an NFT marketplace for over $6 million. The first-ever published tweet from Twitter founder Jack Dorsey recently sold for nearly $3 million.

    5    

It is too early to say if NFTs are good investments. But so far, many people have items that are worth more than what they paid for them. This is no guarantee, however, that such buyers will be able to sell their digital objects for a profit.