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Is This the Start of an NFT Bubble?

OpenSea moved $5 billion of NFTs in January 2022 alone

Non-Fungible Tokens (NFTs) are a fascinating phenomenon. Kevin McCoy and Anil Dash are credited with creating the first NFT in 2014 — Quantum. Sotheby’s sold it at auction for $1.472 million. OpenSea, the leading NFT marketplace, moved $5 billion of NFTs in January. The best day was January 31 when they sold 233 million, or over $10 million an hour. After surviving the DotCom bubble of 2000, the housing bubble (2008), and the Bitcoin bubble of 2018 are we witnessing the start of an NFT bubble?

In this article we will cover:

• What is an NFT?
• NFT Sales Are Exploding
• Why Are Some NFTs More Valuable Than Others?
• What Do You Really Own with an NFT?
• The NFT ‘Right-Click’ Problem — Is It Theft?
• Some Crazy NFTs

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What is an NFT?

A non-fungible token (NFT) is a non-interchangeable unit of data stored on a blockchain, that can be sold and traded.. NFTs are digital…