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The NFT craze explained

Adam Hollander, member of the Bored Ape Yacht Club and head of Hungry Wolves, joined New Day NW to talk about NFTs and explain the NFT Craze. #newdaynw

Chances are that you've heard someone use the term NFT lately. 

NFT stands for non-fungible token meaning the token is one of a kind. It's a way to prove the authenticity and originality of a digital asset such as an audio file, video, photos, or more. For example, an image or gif on the internet is copied and duplicated millions of times, so if you tried to prove you owned the original file, how could you? 

Before NFTs, it was extremely difficult and nearly impossible to place a monetary value on internet images or gifs such as Nyan Cat.

NFTs are currently all the rage as investments, in some ways similar to works of art, but for the digital world. Many are feeling the NFT craze from average investors to celebrities. 

Adam Hollander, member of the Bored Ape Yacht Club and founder of a new NFT project, Hungry Wolves, joined New Day NW to give us a lesson in NFTs and explain more about this wild new digital world.

You can keep up with the latest from Adam and NFTs on his Twitter and see some of his NFT projects here.

Explore the NFT marketplace here.

Segment Producer Suzie Wiley. Watch New Day Northwest 11 AM weekdays on KING 5 and streaming live on KING5.com. Contact New Day.