Within the past year news articles about the NFT boom have constantly made headlines, and teens making millions of dollars from their artwork seems to be a recurring theme.

So, what are NFT’s and why have they produced such a statement in our economy? 

NFT (Non-Fungible Token) are unique works of art stored using a blockchain technology with a special encryption and verifiable code. They are bought and sold on open crypto art markets in exchange for crypto currency or other NFT’s but not any two are alike.The non- fungible stands for the fact that they are “one of a kind” in opposition to generic bitcoin or other cryptocurrencies that are interchangeable. NFT’s are not interchangeable, having ownership of an NFT means you have the rights to a particular work of art and the value varies based upon previous ownership and artistry.