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Buying an NFT also usually gets you some basic usage rights, like being able to post the image online or set it as your profile picture. Plus, of course, there are bragging rights that you own the art, with a blockchain entry to back it up. There’s nothing like an explosion of blockchain news to leave you thinking, “Um… what’s going on here? ” That’s the feeling I’ve experienced while reading about Grimes getting millions of dollars for NFTs or about Nyan Cat being sold as one.
- There are definitely nuances and exceptions there, which you can read about in our blockchain explainer, but when most people say “blockchain,” that’s the kind of tech they’re talking about.
- They get exposure in return, but exposure doesn't pay the bills.
- Specifically, NFTs are typically held on theEthereumblockchain, although other blockchains support them as well.
NFTs really became technically possible when the Ethereum blockchain added support for them as part of a new standard. buid a metaverse Of course, one of the first uses was a game called CryptoKitties that allowed users to trade and sell virtual kittens. At a very high level, most NFTs are part of the Ethereum blockchain, though other blockchains have implemented their own version
