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NFT Basics Explained By Peter Cifichiello and Amanda Schreyer

The popularity of NFTs (non-fungible tokens) skyrocketed in early 2021, even though they have existed on various blockchains since 20121. It seems like everyone is talking about these digital assets right now2. Despite the ubiquity of references to these digital assets in headlines and crypto-parlance, many people are still uncertain about what exactly an NFT is, how one is bought and sold, applicable intellectual property rights, and a variety of other founder and investor concerns.

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