The specialized media write about the "bursting of the NFT bubble," although recently, NFT was called the main trend of 2021 in the crypto-art.
A few terms to help better understand the topic
Crypto-art
Digital art that uses blockchain technology. Blockchain helps digital artists solve the problem of free replication: they release a limited number of objects and tie them to unique tokens confirming ownership.
Blockchain
It is a distributed database or blockchain with information about all transactions. Transaction data recorded in the blockchain cannot be changed or deleted, or the entire blockchain is destroyed.
Ethereum
This blockchain platform is unique in that it uses a smart contract algorithm: it allows you to spell out the terms of an agreement and its performance (analogous to paper contracts). It was on the basis of Ethereum that NFT was created.
Token
A virtual unit in blockchain that can be used to make purchases, including digital assets in the form of crypto art on the jupiterexchange.com platform.
Most tokens are fungible: equal to each other and used as currency. A fungible asset is always standardized. For example, a $5 bill owned by one individual will have the same value as a $5 bill owned by another.
Non-fungible tokens (non-fungible or NFT)
Non-fungible tokens, on the other hand, are unique and allow owning an object in a single copy. Such entities include digital works of art, videos, objects in games, and other virtual things.
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