This Digital Flower Sold For $20,000

See the image here 🌷

This kind of digital art is called an NFT.

NFTs, or non-fungible tokens, are one-of-one collectibles on the Ethereum blockchain. Where cryptocurrencies like Bitcoin and Litecoin are fungible tokens, in the sense that each coin is interchangeable with any other, NFTs are unique assets that can be anything at all.

From the same link…

At an auction in December, the artist Beeple made $3.5 million on a collection of 20 NFTs.

A new work by Beeple – see it here – will soon be up for auction via a major auction house.

Shaan Puri has been getting his feet wet with NFTs: buying a digital artwork of Kobe Bryant for $824 then selling it for $8799 three weeks later, so a quick 10x ROI.

Meanwhile, the NBA seems to be going all-in on NFTs with their Top Shot collectibles. The NFT for this clip of a LeBron James dunk recently sold for $71,455. And a few other NBA NFTs have since sold for $100,000 each 💰

Here’s a nice 2-minute explainer of NFTs on YouTube…

And Tim Ferris discusses them with a guest from the 61-minute mark of this podcast.