Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

In March 2021 Artnet News reported the sale of a piece of NFT digital art by Beeple’s which sold for $69 million at Christie’s auction. The artist, whose real name is Mike Winkelmann, jumped to number three on the list of most expensive living artists at auction. An NFT, or Non-Fungible Token, is a type of digital asset, like a representation of piece of physical art or music, that you can own and trade, typically for between $40 and $200. A fungible asset in economic terms contains units that can be readily interchanged - like money. A non-fungible asset is a unique one-of-a-kind asset, like a work of art. NFTs are bought and sold online, often with cryptocurrency, and they are encoded with the same underlying blockchain software technology as many cryptos. So why would anyone want to own a digital asset, effectively a photograph of a piece of art, when they could take a photograph themselves? Firstly, this new creative enterprise goes far beyond owning a photo of a painting. And let’s face it, millions of p