What is a NFT?

While the internet was able to make digital files infinitely copyable, this isn’t ideal if you are an artist who only wanted to make 10 original edition copies, or a musician who wanted to issue a limited edition album.

Ethereum made digital scarcity possible because data added to a public blockchain means that everyone can see who owns what, and verify their ownership as they change hands.

NFTs brought Ethereum to the mainstream in 2021, not least for the celebrities and artists that drew headlines for record breaking sales, Beeple who sold his “5,000 days” work for $69.3 million in 2021, positioned him between Koons and Hockney as “the top three most valuable living artists” according to Christie’s, which held the auction. Millions of people use MetaMask to buy and sell NFTs on marketplaces, or directly from artists.