Nonfungible tokens represent unique investment opportunities for some investors.
Summer 2021 marked an upheaval in cryptocurrency investing with interest in nonfungible tokens, or NFTs, taking off. NFTs are tokens that represent ownership of unique digital or physical assets, such as art, music, an autographed tweet or even a part from a video game.
In fact, interest soared by more than 700% from the previous quarter, according to DappRadar, a source for managing NFT and decentralized finance portfolios. Instead of buying primarily Bitcoin and other cryptocurrencies on centralized exchanges, investors started snatching up NFTs to the tune of almost $10.7 billion in trading volume in the third quarter of 2021…
This article originally appeared at U.S. News & World Report.