Since 2019, several News channels from across the globe have covered the boom experienced in the cryptocurrency market. Many people previously made and lost money when trading cryptocurrencies as the market was heavily in continuous turmoil. But thanks to the emergence of Bitcoin and Ethereum, many strange and creative innovations have come about.
One such innovation is the invention of a blockchain-based technology known as NFT (Non-Fungible-Token). This innovation is similar to cryptocurrency as it relies on blockchain to maintain a record of the transactions. Currently, NFTs are being widely used in the trade of digital artworks ranging from a snapshot of the first tweet ever made by the CEO of Twitter to video footage of the latest NBA dunks. These digital artworks are sold for millions of dollars and aren’t the only ones.
Many people are unaware of the difference between NFTs and Cryptocurrency. So today, we’re going to discover the difference between these two terms, and then inform you of the upcoming trends driving the NFT market.
What exactly are NFTs and Blockchain?