Part 5/8:
Rita and Guga draw attention to some of the most notorious NFTs that have been sold for extraordinary amounts. For instance, the digital artwork by the artist Beeple, famously auctioned for nearly $70 million, illustrates the vast potential of the NFT marketplace. Furthermore, they discuss popular NFT collections, like the Bored Ape Yacht Club, which have attracted a slew of celebrity endorsements and collectors.
Rita discusses the technology behind NFTs, primarily how blockchain functions as a decentralized ledger of transactions. This structure ensures that any alterations to the NFT would require consensus across all computers in the network, thus guaranteeing security and transparency.