NFTs Kya Hai Bhai?

Beeple is ‘a rich man’ after NFT he created sells for almost $70 million, says Christie’s art specialist


Thats $70 million OR Rs 490 Crores for an Image. I thought I understood a lot about this Information Technology Revolution. But this, I don’t understand.

What is NFT Bhai?

NFTs are stored in digital wallets and are unique by design. That scarcity, proponents say, is critical to their value. Ownership of each NFT is recorded on a blockchain network, the digital ledgers that also power cryptocurrencies such as bitcoin

“There’s a couple different analogies I like to use. One of them is the Mona Lisa. Anybody can take a picture of the Mona Lisa, but that doesn’t mean you own the Mona Lisa,” Winkelmann said then, referring to the iconic portrait painted by Leonardo da Vinci.

“Another one that I like to use is like MP3s. You can have a copy of Michael Jackson’s ‘Thriller,’ but … you’re not going to be able to convince people that you own the master recordings of ‘Thriller,’” Winkelmann said. “You can still have copies of digital art online and everybody can view them, but the blockchain, the NFT, is the thing that proves this one person owns it.”


I understood little bit but what I do not understand is ……. $70 Million !!!