NFTs create a unique digital signature to prove ownership

The acronym NFT stands for non-fungible token

NFTs have developed as a secure way to use cryptocurrencies and the blockchain to create unique digital art, allowing the owner to prove ownership of a specific digital item.

NFTs can be used for fractionalized ownership of assets

Non-fungible token is a term used to describe a unique digital asset whose ownership is tracked on a blockchain, such as Ethereum.

NFTs are unique assets that exist on the blockchain

This SNL skit accurately defines non-fungible tokens in a song and skit. They are cryptographic tokens that represent digital assets like art, and their value can be volatile.

NFTs can be minted using an online marketplace or directly on the blockchain

Minting, or creating, an NFT is how NFTs are added to the blockchain. The process can be simplified by using a popular marketplace.

Smart contracts are the foundational technology behind NFTs

Smart contracts use “if that, then this” logic to track the ownership of NFTs and record when they are bought and sold on the blockchain.

Ethereum Founder Vitalik Buterin was surprised by the emergence of NFTs

Scams have pervaded the NFT space and made critics question their legitimacy, but proponents believe their use cases could one day extend to real estate and credit scores.

At their peak, some believed NFT royalties could create a new income source for artists

Non-fungible tokens’ role in the art world is evolving with experiments such as automated NFT royalties that generate income when an NFT is resold.

NFT trading volumes rose 700% in the third quarter of 2021

Non-fungible tokens, digital assets backed by smart contracts, gained mainstream recognition in 2021 as the digital assets’ popularity rose in tandem with investors’ appetite for risk. NFTs are unique and not divisible.

The biggest NFT projects that live on Ethereum include Bored Apes

Non-fungible tokens are primarily built on the Ethereum blockchain, though other blockchains host the tokens. NFT projects hosted on Ethereum include Bored Apes and plots of land in Decentraland.

NFTs have been leveraged by brands to represent physical and digital items

The buzz around non-fungible tokens has faded since 2021 to 2022, when brands including Prada and Starbucks launched their own NFTs. While Prada’s NFTs were linked to limited-edition fashion items, Starbucks’ were part of a loyalty program.

A unique art piece became the most expensive NFT when it sold for $92M

Non-fungible tokens sold for millions of dollars during their popularity peak from 2021 to 2022, with the top ten most expensive NFTs all costing upwards of $7M.

Listen to a podcast episode about the time a 'Bored Ape' NFT—a valuable, unique digital asset stored on a blockchain—was kidnapped.

A beginner's guide to creating your own NFT

It took 12 hours and three different Apple devices, but this 30-something poet successfully minted her first NFT, and so can you. Here’s a step-by-step guide to creating an NFT.

Ethereum is a blockchain-powered operating system known for its cryptocurrency, ether

Ethereum's underlying blockchain allows developers to build decentralized applications (dApps) that leverage smart contracts to seamlessly run decentralized financial tools (crypto wallets, exchanges, marketplaces, and more), along with Web3 concepts like non-fungible tokens.

Learn about Web3 and how it differs from past versions of the internet

Web3 is the idea of a new, decentralized internet built on blockchain technology. It aims to shift control from centralized entities like big tech companies to users through distributed ledgers and smart contracts. Key components include cryptocurrencies, NFTs, and decentralized autonomous organizations (DAOs) that operate without a central authority. Web3 promises more user privacy, ownership, and control over data and digital assets.

A simple visual explanation of how blockchains work

Blockchains are decentralized, distributed, and digital methods to record transactions and prevent alterations and tampering of the record. That's a simplified definition. This easy-to-understand six-minute video further and better explains what blockchains are and how they work using colorful illustrations and clear, concise clarifications on their processes and what makes them so special.

Proof-of-work versus proof-of-stake: what's the difference?

The two main consensus mechanisms—the way blockchains confirm and enshrine information—are proof-of-stake and proof-of-work. An overview compares the differences between the two and the latter's ability to reduce the energy intensity of the computation process, which has emerged as one of the biggest criticisms of the crypto boom.

Proof-of-work is the original way cryptocurrencies added new blocks to blockchains

It’s a competitive method requiring “miners” to solve cryptographic puzzles, often using equipment that consumes massive amounts of energy. Ethereum switched to proof-of-stake, a less energy-intensive method in which “validators” stake crypto to be randomly chosen to check transactions.

Digital passports allow identity verification to be digitized

By scanning the security chip on the back of passports and capturing images or video of a person, apps like Google Wallet and Apple Wallet create a digital version of the document. Some states have also developed their own apps for digital driver's licenses.

See how the concept of verification and addition to the blockchain works in real time.

Every transaction made via bitcoin is recorded on its blockchain—the decentralized, distributed ledger that provides a permanent and transparent record of the currency's entire history. While that may sound abstract, the technology allows anyone to monitor and confirm each of the transactions.

What are smart contracts?

Smart contracts are potentially one of the most useful tools associated with blockchain, and they can enable the transfer of everything from Bitcoin and fiat currency to goods transported around the world. Here’s what they do and why they’re likely to gain traction.

Every printed bill has its own unique serial number

In the US, each bill also has its own plate number, series year, Treasury seal, and more. Each design helps track money and combat counterfeiting.

Bitcoin and ethereum are decentralized cryptocurrencies with different functions

Bitcoin, launched in 2009, is primarily a digital currency and store of value with a fixed supply. Ethereum, introduced in 2015, enables smart contracts and decentralized apps, offering more flexibility.

A deed is a legal document that shows change of homeownership during a sale

A deed differs from a title, which is the actual right of ownership to a property, and a concept rather than a physical document. These days, many deeds are online rather than physical pieces of paper kept in a home.

Ethereum is a blockchain-powered platform for building decentralized software and apps

Among crypto enthusiasts, ethereum is known for the cryptocurrency it uses to facilitate transactions: ether, or ETH. It's often compared to an app store. The underpinnings of ethereum's blockchain include dApps, which operate using automated scripts called "smart contracts."

The Ethereum Foundation’s latest report

The Ethereum Foundation is a nonprofit organization supporting Ethereum in several ways. These include providing grants to developers who want to build on the blockchain, and hosting events promoting crypto’s future, like Devcon. This annual report grants a peek into the nonprofit’s role in Ethereum's operations and the values it seeks to support through its work. The nonprofit’s frontline involvement is another differentiating factor between Ethereum and other cryptocurrencies.

The number of active art NFT traders peaked above 529,000 in 2021

The market for art non-fungible tokens has collapsed since its 2021 peak. In 2024, it had just 76,000 active traders.

Decentralized applications are blockchain-based and run without a central authority

These apps use smart contracts to automatically execute functions, ensuring security, transparency, and censorship resistance. Built on platforms like Ethereum, Solana, and Binance Smart Chain, DApps power DeFi, NFTs, gaming, and social media, offering users control over their data and assets.

Top Ethereum dApps

Thousands of decentralized apps (dApps) run on Ethereum, including marketplaces, financial platforms, and social networks. Top apps include Uniswap, a decentralized exchange for buying and selling cryptocurrency, and OpenSea, the biggest marketplace for buying and selling non-fungible tokens (NFTs). New apps are built on Ethereum all the time, facilitating billions of dollars worth of transactions. Explore the biggest ones here.

Cryptocurrency acts as a store of value

Traditional money, dating back to its first known uses in ancient Babylonia, has many uses—it reduces friction in transactions by providing a common denominator of value (unit of account), acts as a single item accepted by many vendors (medium of exchange), and holds wealth as a store of value.

Memecoins are cryptocurrency created around popular 'memes,' or viral internet jokes

Dogecoin is perhaps the most famous "memecoin." While they tend to be more volatile than other types of crypto (after all, they're often created due to ephemeral trends), that doesn't mean they can't be valuable: Dogecoin is currently one of the most valuable cryptocurrencies in the world.

Watch an expert explain blockchain technology to five different people: a child, a teen, a college student, a grad student, and a fellow expert.

'NIL' in college sports refers to 'name, image, and likeness'

In 2021, the NCAA began allowing its student-athletes to profit from using their name, image, and likeness, now often called NIL. While this is now permitted by the NCAA, state law (and school policies) largely dictate what is permitted.

Graffiti exists in a legal gray area

"Street art" has become a major seller in the art world, yet many states still consider graffiti to be illegal vandalism. Copyright law complicates the situation further, offering protections for "original works of authorship fixed in a tangible medium of expression," even if they've been created illegally.

A visual guide to how bitcoin transactions work and rely on cryptography

The "crypto-" in cryptocurrencies like bitcoin refers to the mathematical functions that generate pairs of public and private keys and encrypt data in blocks. When combined, these systems secure transactions on the network, verify digital asset and token transfers, and contribute to end-user anonymity.

The future of the internet

Blockchain? Crypto? NFTs? Oh my. Gilles DC provides a simple breakdown of what Web3 is, what it involves, its connection with web currencies, and how you can begin your own explorations of this brave new world. Gilles promises to describe Web3 in one take, explain how the reader can take advantage of it, and how blockchain might build a better society as a result.

The benefits of cryptocurrency and blockchain technology

At the root of cryptocurrencies' allure is blockchain technology, an innovation bringing profound transformations to industries, especially the financial industry. This simple article breaks down the difference between cryptocurrencies and blockchain as well as the benefits of each.

How art-backed loans work

Using your art collections—some of which are valued in the millions—to secure a loan is becoming more common among collectors. Here's a breakdown on how banks and private lenders are making best of the opportunity in liquidity.

The blockchain offers tantalizing possibilities for future use

Think of blockchains as a running list of information, where new details are added to the running chain as discrete "blocks." With crypto, the information contained within each block could be virtually anything, providing flexibility for uses in commerce, legal filings, healthcare records, and more.

Explaining the Ethereum merge in simple terms

Ethereum slowly switched the way it adds blocks to the chain. In 2022, it completed its transition from a proof-of-work model to a proof-of-stake model. That event, called “The Merge,” happened when it combined two Ethereum blockchains operating under different systems. For an explanation of proof-of-work and proof-of-stake, and the significance of switching from one to the other, read this article.

What is the creator economy?

The creator economy is a system powered by people creating online content for monetizable audiences. These “creators” and “influencers” make money off their digital audiences through brand deals or revenue shares with social media platforms.

Deepfakes came to prominence in the form of nonconsensual pornography

The explosion of deepfakes depicting renowned people in both ridiculous and compromising videos has provoked widespread fears they will undermine public trust in authoritative knowledge. However, some scholars argue that real videos will always be distinguishable from deepfakes via the video-sharer's testimony and a broader social context.

Visualize how passkeys, which rely on asymmetric cryptography to authenticate users, work

After using biometrics or a PIN to access the private key stored on a device, it is combined with a random number generated by the site to produce a cryptographic signature. This signature is verified using the site's public key, allowing a user to log in without entering a password. This reduces the risk of fraudulent messages—phishing attacks—and data breaches.

Microchips in payment cards improve security by generating unique transaction codes

Magnetic strips store unchanging data that is easily cloned, but microchips act as miniature computers that encrypt sensitive data. They also resist fraud by creating data unique to each transaction, preventing duplication.

Crypto exchanges are online platforms to buy, sell, and exchange cryptocurrencies

Crypto exchanges have grown alongside and fueled the boom in digital currencies. Popular exchanges like Coinbase, Kraken, and Binance each have separate features, fee structures, and more. You can learn how to begin with the platforms, how to carry out research, and when to be aware of the associated risks.

Scents, when they are truly unique and identifiable to a particular brand, can be trademarked.

Malicious use of deepfakes can be found in scams, misinformation, and disinformation

Artificial neural networks can identify an individual's physical characteristics when provided with training data, such as real footage of the person speaking. Graphics techniques overlay these with matching characteristics from another real or generated person to create novel footage of things that have never taken place in reality.

Trademarks are just one type of intellectual property

Intellectual property refers to any intangible "creation of the mind," which includes ideas, creative works, and even trade secrets. Trademarks, copyright, and patents are all protected by intellectual property laws—but each protection is separate and distinct.

Banksy turned graffiti into high art

The anonymous artist is renowned for his puckish, often stenciled street art. He's also known for the eye-popping sales those works command once they're up for auction. This podcast dives into the history of the singular artist, exploring how a British graffiti artist became a cultural icon.

The Nasdaq was founded in 1971, marking the debut of electronic trading

The Nasdaq stock exchange arguably invented electronic trading, making it a key part of fintech history. It's often used as a benchmark for how the tech industry is performing.