What are NFTs and why are some worth millions?

photo credit, BBC / Pebble

An exclusive digital artwork is being sold at Christie’s for a astronomical sum of $69 million (+37 billion CFA), but the winning bidder will not receive a sculpture, painting, or even engraving.

Instead, it will receive a unique digital code called an NFT.

Not to be missed on BBC Africa:

If bitcoin was hailed as the digital answer to currency, NFTs are now described as the digital answer to collectibles.

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