What are NFTs and why are they so popular?

Non-fungible tokens continue to captivate mainstream audiences around the world as Web3 technology develops at a rapid pace.

Non-fungible tokens (NFTs) have been an integral part of the cryptocurrency space for a few years. Yet their value and usefulness in several sectors has led to their proliferation in mainstream consciousness.

Cointelegraph's Director of Video Production, Jackson DuMont, delves into the intricacies of NFTs, highlighting the importance of the underlying blockchain technology in proving ownership of rare digital assets:

"NFTs provide unique, verifiable and immutable proof of ownership of digital assets. True digital ownership of assets through NFTs is a revolutionary idea that will transform the way we interact with the Internet."

Another important aspect of NFT technology highlighted by DuMont is the transfer of ownership of digital assets to users as Web3 functionality begins to proliferate across the Internet.

NFTs come in many different forms, from top NBA highlights to multimillion-dollar works of art by some of the most talented creators in the world. Technology is also being used as a way to solve dilemmas for ticketing and other real-world use cases.

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