In the recent year 2021, people have found a new reason to "go crazy. You'd be lying if you said you haven't heard or seen anything about the main phenomenon of this year - NFT. Without any exaggeration, behind this acronym lies strange and absurd news, which day after day is striking in its paradox.

What is NFT?

Sure, many people are skeptical of NFT and twiddle their thumbs, but there's no denying that NFT is now a modern digital art form that is increasingly taking over the corners of the net. Examples of such art can be seen on Jupiter.

The word Fungible is used in English as a specific economic term for goods that are completely indistinguishable from one another, which means that they or their parts can be painlessly replaced.

To understand what a token is, one must be clearly aware of how blockchain technology works. In most transactions, the verification process for buying, selling and transferring money is centralized - we trust banks to do this.

Servicers and algorithms check our account information and decide whether our current balance allows us to make a particular transaction.

NFT is an exclusive crypto-asset that cannot be split or counterfeited. It is with the help of NFT tokens that demolition transactions are made today for the purchase of virtual art objects.

Examples of NFT purchases

The very first publication in Twitter's history, made by the platform's founder Jack Dorsey, was sold for three billion euros .

Everyone's famous Nyan Cat rainbow gif has recently been owned by Chris Torres. The bidding at the auction began with a bid of three airs (~$6,000) and went up 100 times to 300 airs. Thus, the gif was sold for $600,000 .

Nyan Cat - a video, uploaded to the video hosting YouTube in April 2011 and has become a popular visual and musical Internet meme.

The video features motifs from Japanese pop music and a moving drawing of a cat with the body of a Pop-Tarts cookie flying through space and leaving a trail of rainbows behind it. The video had the fifth most views in 2011.