Things like these are getting sold for millions.

Is this madness or is there some mega-trend at play?

Let's understand the NFT craze: 👇👇

1) NFT?

- It is an asset on a blockchain network (eg. Ethereum network)
- B/c the data can be tracked, it has a clear proof of ownership.
- And, like the Monalisa painting it holds no value if it is broken down (hence, it is non-fungible)

- Example:

Jack Dorsey's Tweet

2) Just because you 'own' a NFT does not mean that you get to do whatever you like with it: 

- For example, you can't change Jack's Tweet above even if you are the owner.
- Or hide it from people.

Oh then what's the point? 👇

3) Owning a NFT gives you multiple advantages

For one, bragging rights.

- If you own the Tweet, you get to say: "hey, I am a baller and I own such cool things".

- You will then be invited by news channels or whatnot and you elevate your social circle.

But is that all? NO.

4) NFTs have real value:

- Example: imagine if you could own Picasso's paintbrush. Its value? probably in millions.

- Same goes for other 'rare NFTs'. So a lot of rare NFTs like Crypto Punks have been minted.

- The best part: in the NFT world, the proof is traceable.