• Are NFTs a plague on humanity or a technology you can tame?

    Posted on February 7, 2022 at 02:43 CST by • Comment in the Forums

    PUBLIC DEFENDER

    Brian Livingston

    By Brian Livingston

    Seemingly out of nowhere, people are paying thousands or millions of dollars in cryptocurrency to buy NFTs, otherwise known as “nonfungible tokens” (a term I’ll explain in a moment). Can NFTs be good tools for you, or are they too corrupted by the bad reputation they’ve earned because of recent schemes and scams?

    NFTs are nonfungible because they are unique tokens. Each token is written to a blockchain by a maker or a seller of physical or virtual merchandise. (For an explanation of blockchain technology, see my June 7, 2021, column.) Here’s how to distinguish fungible and nonfungible.

    Read the full story in the AskWoody Plus Newsletter 19.06.0 (2022-02-07).

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