non fungible tokens (NFT)

As we know that there is a boom of cryptocurrencies and non-fungible tokens (NFT) are the new multi-million-dollar headline concept in 2021. NFT are the transactions recorded on the blockchain as they are also the web version of the physical ledger. As NFT’s are recorded in blockchain so these transactions are permanent, and they are verified many times so they cannot be changed or edited. These tokens are in the form of memes, media, articles, arts. An NFT is essentially a certificate of authenticity or a digital autograph that can be attached to digital property. NFT’s are usually paid in cryptocurrencies so they are the certificates that are being given to the people who buy these tokens, and they are not there for doing copyright as these are just a part of a video, gif, meme so people cannot take copyright till the time it is not specified on the certificate. These multi-million tokens are attracting social media towards them few of the gifs were sold for more than 500,000$ dollars and it has created a record that work was sold for 69 million dollars that were named as beeple and it was bought by 2 Indian-origin crypto enthusiasts. It has become a very important part of these artists as this is a platform where they can sell their arts, music, meme. These NFT’s have a huge market where these tokens can be resold or given royalties to the owners of these tokens. But there is a bad hope for these NFT as this connected crypto market which is fully an unregulated market. These NFT’s are mainly traded in Ethereum.