Non-fungible tokens (NFTs), are cryptographic tokens similar to Bitcoin or Ethereum. Unlike those cryptocurrencies, NFT can be digital art, experience, collectible, and many other things.
Here's where NFTs are different. If the digital asset is Bitcoin, then everyone's Bitcoin is the same. That is not the case for NFTs. Instead, each asset is completely unique for each owner, and the NFTs are not interchangeable.
Tal Elyashiv, CEO of San Francisco-based SPiCE, a venture capital firm is providing its investor's exposure to the massive growth of the Blockchain and tokenization ecosystem, explains to TheStreet's Corey Goldman what NFTs are, how they work, and how they can benefit artists in particular, as well as collectors and investors.
Watch the video above or learn more about cryptocurrency here: Why Kevin O'Leary Changed His Mind About Bitcoin, Don't Bet Your Retirement on Bitcoin, Sallie Krawcheck Says, Bitcoin Is Now an Asset Class - So What's the Next Bitcoin? and Jim Cramer Says If Bitcoin Comes Down, Be Ready to Buy.