SCMP Explains: What are NFTs?

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From a self-portrait painted by Sophia the Robot, to Twitter co-founder Jack Dorsey’s first tweet, to Beeple’s US$69 million JPEG, digital NFT creations also known as “nifties” have been fetching eye-watering prices on auction in the first few months of 2021, and in turn making the global arts scene sit up and take notice. This SCMP Explains looks into the question: what exactly are non-fungible tokens?

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