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Today, Explained

WTF is an NFT?

Today, Explained

Vox

News, Daily News, Politics

4.310.3K Ratings

🗓️ 23 March 2021

⏱️ 23 minutes

🧾️ Download transcript

Summary

On Monday, a tweet sold for $2.9 million. That followed a JPEG that went for $69 million. The Verge’s Liz Lopatto explains how internet ephemera turned to gold. Transcript at vox.com/todayexplained. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

This episode is brought to you by Slack. With Slack, you can bring all your people and

0:05.9

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0:11.1

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0:16.7

like huddles for quick check-ins or Slack Connect, which helps you connect with partners

0:20.9

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0:26.9

Slack.com slash DHQ.

0:36.1

It's today explained, but I got to tell you about something that happened yesterday.

0:39.8

Yesterday, a tweet, a tweet was sold for $2.9 million. $2,915,835.47 to be exact. The tweet

0:53.7

was sent at 3.50pm on March 21, 2006. It said, just setting up my Twitter. All over

1:03.1

case. $2.9 million, $2,915,835.47 to be exact. Mind you, this was the first tweet ever

1:17.6

sent. It was issued by Twitter's founder, Jack Dorsey. Yesterday, Twitter billionaire and

1:24.7

friend of Beyonce's husband, as my mom calls him, Jack Dorsey sold his first-ever tweet

1:31.1

for $2.9 million. Say it with me, $2,915,835.47 to be exact. Perhaps you're wondering,

1:44.5

WTF? The answer is NFT.

1:49.5

Non-fungible tokens or NFTs are exploding in popularity. It's the latest cryptocurrency

1:55.3

craze, think Bitcoin. But instead of holding a coin or dollar, you hold an asset, like art,

2:01.4

tickets, music. At a high level, you can think of it as a way of making some kind of digital

2:05.9

asset unique.

2:06.9

Liz Lapato, deputy editor at The Verge.

2:11.4

Here's this artist, people, who just sold an art collage of his for $69 million. Nice.

2:18.9

It's a collage of 5,000 individual images made one per day over more than 13 years. I think

2:25.5

it puts him among the top three most valuable living artists.

...

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