Sales of NFTs on Tuesday 23rd February 2021 reached $60 million dollars which is higher than the total sales of tokens recorded in the whole of 2020. This development surely did not happen overnight as it provides a method with which artists, musicians, or sports entities are able to make money from their contents by designating an official copy of their digital media which could then be bought with tokens that are also unique (as they cannot be interchanged).

Before getting into the impact NFTs have on the value of entertainment entities, it is important to understand what NFTs are exactly. A Non-Fungible Token (NFT) is a special type of cryptographic token that represents something special including arts, music, In-game entities and more. Being non-fungible means these tokens that represent certain entertainment entities are one of a kind and hence, value is provided for those items as they become special collectibles.

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