New Chainalysis Report Suggests NFT Crime Doesn’t (Always) Pay
More NFT wash traders lost money than made money in 2021, according to the blockchain research firm’s data.
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Feb 2, 2022 at 2:35 p.m. UTC
Feb 2, 2022
Non-Fungible Tokens (NFTs) are unique digital assets verified using blockchain technology, primarily on platforms like Ethereum. Unlike cryptocurrencies, NFTs are indivisible and cannot be exchanged on a one-to-one basis, ensuring each NFT is distinct and irreplaceable, much like a physical collectible. They have gained prominence in digital art, music, gaming, and other online communities for enabling proof of ownership and authenticity of digital creations. NFTs can represent anything from artwork and music to videos and tweets.