You gave up a Squirtle, and got a 1909 T206 Honus Wagner, which StadiumTalk calls “the Mona Lisa of baseball cards.” (I’ll take their word for it.)Īt a very high level, most NFTs are part of the Ethereum blockchain. If you traded it for a different card, you’d have something completely different. A one-of-a-kind trading card, however, is non-fungible. For example, a bitcoin is fungible - trade one for another bitcoin, and you’ll have exactly the same thing. “Non-fungible” more or less means that it’s unique and can’t be replaced with something else. Okay, let’s start with the basics: What is an NFT? What does NFT stand for? You might be wondering: what is an NFT, anyhow?Īfter literal hours of reading, I think I know. Now, months after we first published this explainer, we’re still seeing headlines about people paying house-money for clip art of rocks - and my mom still doesn’t really understand what an NFT is. And by the time we all thought we sort of knew what the deal was, the founder of Twitter put an autographed tweet up for sale as an NFT. There’s nothing like an explosion of blockchain news to leave you thinking, “Um… what’s going on here?” That’s the feeling I’ve experienced while reading about Grimes getting millions of dollars for NFTs or about Nyan Cat being sold as one.
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