NFTs Are Fueling a Boom in Digital Art. Here’s How They Work | WSJ

Non-fungible tokens, or NFTs, have exploded onto the digital art scene this past year. Proponents say they are a way to make digital assets scarce, and therefore more valuable. WSJ explains how they work, and why skeptics question whether they’re built to last. Photo Illustration: Jacob Reynolds/WSJ These Cryptocurrencies Make Owning Memes Possible WSJ Glossary Markets and economics are complex. It’s easy to be overwhelmed by a sea of wonky indicators and lose track of why they matter. This series breaks down the basic terms and ideas that move the markets.