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Top 3 Reasons Why NFTs Matter

A quick primer on what NFTs are and why you should care

So you’ve been hearing about these new things, NFTs, and you’re confused.

I get it.

Honestly, it took a few months from when I first heard about them to feel like I understood them. And I’m a tech entrepreneur. So I get why they’re so mysterious to most people.

Let’s quickly cover what NFTs are and then get into the top 3 reasons why they matter.

What are NFTs?

At first I thought they were just online collectibles, like digital beany babies (remembers those?) or baseball trading cards.

And they are, sort of. But also so much more.

NFT stands for Non-Fungible Token. The idea of “fungibility” comes from economics.

A “fungible” asset is something that isn’t unique and that could easily be replaced with another one its kind. Cash is fungible, because any two dollar bills are interchangeable, as long as they represent the same amount of money.