Technology

Want to trade NFTs? Best beware the risks

NFTs are being traded and have sometimes sold online for astronomical sums, with major companies now joining the craze as the tokens find their way into everything from the art market to video games. But what exactly are these digital assets, and how are they traded? What is an NFT? NFT stands for Non-Fungible Token. Something that is “fungible” can be exchanged with an equivalent item — for example, a $5 bill with another $5 bill. Cryptocurrencies, which use a digital public record of transactions called a blockchain, are fungible.

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OODA Analyst

OODA Analyst

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