What Are NFTs? A Guide for Investors

NFTs, a class of blockchain assets, are expanding beyond art into retail and even real estate. Here's what you need to know.

Non-fungible tokens, or NFTs, are a hot topic in the cryptocurrency world, and not only for their high-profile role in digital art. Big brands like Nike Inc. (ticker: NKE), Louis Vuitton and Coca-Cola Co. (KO) are dabbling in NFT creations.

The NFT market had a breakout year in 2021, and there's still heightened interest in this digital asset class. According to data from Chainalysis, collectors in 2022 have sent over $37 billion worth of assets to NFT marketplaces as of May 1, putting them on pace to easily beat the total of $40 billion sent in 2021.

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