What are NFTs The Economist

What are NFTs? | The Economist

YouTube video


In the past year a new trend in the crypto world has boomed: NFTs, or non-fungible tokens. They started as a way for digital artists to have ownership over their work but have transformed into a dizzying new multi-billion-dollar marketplace. Are they worth the hype?

00:00 – Are NFTs worth the hype?
01:38 – How to sell an NFT
03:24 – Where did NFTs come from?
04:51 – Why are NFTs so popular?
05:45 – NFTs in the artworld
07:04 – The risks in buying and selling NFTs
08:08 – NFTs in the metaverse
08:53 – The real world uses of NFTs

Read Alice Fulwood’s cover story on decentralised finance: https://econ.st/3L3yzBh

Find our most recent coverage on finance and economics: https://econ.st/3IUZugB

Sign up to our daily newsletter: https://econ.st/3gJBH8D

Why did we decide to sell our own NFT?: https://econ.st/3ofuyzV

Listen to our podcast episode on how our NFT auction went: https://econ.st/3sccbNv

What is an NFT?: https://econ.st/3KYbtfb

Find our most-read explainers on decentralised finance: https://econ.st/3KYbDDj

Did an avant-garde French artist sell the first NFT?: https://econ.st/3s6fsxC

How is the market for NFTs growing?: https://econ.st/35HW42z

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43 comments

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  6. Piotrek Szostak

    The video seems to talk an awful lot but actual reason why someone would be prepared to pay huge money for NFT is mainly glossed over.
    Informative value of this video is minimal, but someone did spend some time on the putting all these neon signs together.. shame it didn't help much

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  10. Like most art, NFT is a scam.

  11. NFTs are 21st century tulip futures. 🌷

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  14. recommending CALCECODE on IG

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  29. PottersNFT Corporation

    One Year Splash of NFT Stats –

    Unique NFT Buyers/Sellers over the Past 52 Weeks (using market analytics data)

    Compared to May 2021 the number of unique NFT:

    Buyers has increased by a factor of x20.5 (1380 to 28,231)
    Sellers has increased by a factor of x20.9 (1366 to 28,605)

    In proceeding 52-week period the number of unique:

    NFT Buyers peaked at 192,226 the week of January 31, 2022

    NFT Sellers peaked at 155,379 also in the week of January 31, 2022

    Does anyone have a gut feeling as to when the next peak might occur? hmmmmm

    And…. here’s the raw data (hope it’s useful to you)

    2021-05-10 B: 1380 S: 1366
    2021-05-17 B: 6562 S: 5367

    2021-05-24 B: 9272 S: 6889

    2021-05-31 B: 10835 S: 8219

    2021-06-07 B: 12179 S: 9490

    2021-06-14 B: 14546 S: 10390

    2021-06-21 B: 15307 S: 11683

    2021-06-28 B: 16365 S: 12698

    2021-07-05 B: 17762 S: 14167

    2021-07-12 B: 21975 S: 16965

    2021-07-19 B: 25894 S: 19056

    2021-07-26 B: 29527 S: 21489

    2021-08-02 B: 50190 S: 34670

    2021-08-09 B: 70500 S: 42244

    2021-08-16 B: 69722 S: 43672

    2021-08-23 B: 105283 S: 64875

    2021-08-30 B: 110286 S: 64271

    2021-09-06 B: 94123 S: 55671

    2021-09-13 B: 98383 S: 65660

    2021-09-20 B: 99930 S: 70635

    2021-09-27 B: 110959 S: 79972

    2021-10-04 B: 109523 S: 80485

    2021-10-11 B: 102664 S: 70104

    2021-10-18 B: 92706 S: 66126

    2021-10-25 B: 66307 S: 49795

    2021-11-01 B: 65070 S: 50145

    2021-11-08 B: 62705 S: 47608

    2021-11-15 B: 83866 S: 65659

    2021-11-22 B: 7849 S: 64374

    2021-11-29 B: 88038 S: 65799

    2021-12-06 B: 89892 S: 69056

    2021-12-13 B: 108809 S: 80606

    2021-12-20 B: 104193 S: 79341

    2021-12-27 B: 128590 S: 101165

    2022-01-03 B: 161487 S: 127450

    2022-01-10 B: 175170 S: 133805

    2022-01-17 B: 179279 S: 132186

    2022-01-24 B: 176893 S: 140191

    2022-01-31 B: 192226 S: 155379

    2022-02-07 B: 170442 S: 141313

    2022-02-14 B: 162208 S: 142100

    2022-02-21 B: 171652 S: 143412

    2022-02-28 B: 146543 S: 125126

    2022-03-07 B: 133348 S: 114938

    2022-03-14 B: 123594 S: 115383

    2022-03-21 B: 130926 S: 119577

    2022-03-28 B: 125889 S: 123996

    2022-04-04 B: 145748 S: 136596

    2022-04-11 B: 140472 S: 127389

    2022-04-18 B: 142981 S: 142013

    2022-04-25 B: 136104 S: 130838

    2022-05-02 B: 130374 S: 124565

    2022-05-09 B: 94647 S: 91298

    2022-05-16 B: 28231 S: 28605

  30. A Regular Sloth NFTs

    Still being lazy and waiting for someone to buy me … 🙁

  31. Thanks for this cool video, I’m looking forward to seeing more videos about NFT.

  32. Leonardo nogueira

    OI, adorei o vídeo

  33. stop propagating these lies. And stop using the word "owner". You don't own anything. These are just scams.

  34. HELLO, I'M A NEWBIE IN CRYPT0😞 AND I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN…I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED… CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?

  35. I'm here to try to understand NFT's from a microeconomic perspective.

    I see the future potential of NFT's as a technology – if and when they are used as tokens of ownerships of rivalrous or excludable goods.

    I'm still to be convinced however, that currently existing NFT's can justifiably have a price from a microeconomic perspective. They are all, to my understanding non-rivalrous and non-excludable, and as such public goods.

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  38. This is dumb, nfts are an example that only few will be successful while others find out about them only to gain nothing from them.

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  40. The market is unregulated so you own something doesn't mean anything.

  41. NoneOf YourDamnBusiness

    One of the worst most boring vanilla videos on NTFs I've seen to date.

  42. Still haven't got a scobby what an NFT is!!