London (CNN Business)Plenty of ink was spilled earlier this year when investors, hobbyists and art enthusiasts started frantically buying up non-fungible tokens, or NFTs, in another crypto world craze.
Breaking it down: NFTs transform digital works of art and other collectibles into one-of-a-kind, verifiable assets that are easy to trade on the blockchain. Notable examples include a decade-old “Nyan Cat” GIF, which sold for $600,000, and Twitter CEO Jack Dorsey’s first tweet, which hauled in $2.9 million.
Then the fervor subsided, and it looked like what some were calling a speculative bubble had popped. But last month, interest in NFTs surged again — triggering a new frenzy.