NFTs

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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.

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(Dylan Calluy/Unsplash, modified by CoinDesk)
The Promises and Perils of NFTs: An Excerpt From 'The Everything Token'
In their new book, Steve Kaczynski and Scott Duke Kominers discuss the ongoing challenges (and potential solutions) around diversity, regulation and decentralization facing th...
(Dylan Calluy/Unsplash, modified by CoinDesk)

"Genesis Cat" from the Taproot Wizards Quantum Cats collection of Bitcoin Ordinals inscriptions. (Taproot Wizards, modified by CoinDesk)
Bitcoin-Based Digital Art Image 'Genesis Cat' Sells for $254K in Sotheby's Auction
The sale of the digital image from the Taproot Wizards project came as popularity surges for the NFT-like creations minted atop the Bitcoin blockchain's Ordinals protocol. All...
"Genesis Cat" from the Taproot Wizards Quantum Cats collection of Bitcoin Ordinals inscriptions. (Taproot Wizards, modified by CoinDesk)

Genesis Quantum Cats inscription from Taproot Wizards (Taproot Wizards, modified by CoinDesk)
Taproot Wizards, Bitcoin Ordinals Project That Raised $7.5M, to Sell 'Quantum Cats' Collection
The "NFTs on Bitcoin" project has capitalized on the popularity of the controversial Ordinals protocol, which has generated a flurry of interest in the original blockchain but...
Genesis Quantum Cats inscription from Taproot Wizards (Taproot Wizards, modified by CoinDesk)

Image of some of Luke Dashjr's proposed code changes, from pull request #28408. (GitHub, modified by CoinDesk)
Bitcoin Developer's Proposal to Stop 'Spam' NFTs Gets Shut Down
Luke Dashjr's technical proposal sounded innocuous enough: to make the popular Bitcoin Core software "effective with newer datacarrying styles." In reality, the effort represe...
Image of some of Luke Dashjr's proposed code changes, from pull request #28408. (GitHub, modified by CoinDesk)

Screenshot of BitcoinShrooms website showing items from the collection. (Bitcoinshrooms.com)
'Bitcoin NFT' Hysteria Comes to Sotheby's as Super-Mario-Style Mushroom Character Tops $200K
In the historic auction house's first-ever sale of the Ordinals inscriptions known as "NFTs on Bitcoin," a batch of three pixelated images from a mushroom-themed collection dr...
Screenshot of BitcoinShrooms website showing items from the collection. (Bitcoinshrooms.com)

Pudgy Penguins NFT are on a holiday rally. (Screenshot)
Pudgy Penguins to Launch Webkinz-Like Virtual World in 2024
Pudgy World, an interactive digital world available to Pudgy Penguin NFT holders, will become available in alpha mode sometime next year, according to the company’s CEO.
Pudgy Penguins NFT are on a holiday rally. (Screenshot)

P1A, the artist behind the NFT.
P1A: Refik Anadol Explores 'Boundaries of Creativity'
The artist made an NFT of Refik Anadol, another artist, for our Most Influential package.
P1A, the artist behind the NFT.

Luca Netz (Mason Webb/CoinDesk)
Luca Schnetzler: When NFTs Crashed, He Led Pudgy Penguins to Success
While much of the NFT market was taking beatings, the Pudgy Penguins CEO (who's also known as Luca Netz) drove his brand forward, setting up shop with some of the largest reta...
Luca Netz (Mason Webb/CoinDesk)

Logik's image of Pacman for Most Influential 2023.
'Pacman' Gobbled NFT Sales With Blur
Blur upended OpenSea's NFT marketplace dominance by focusing on big traders. Its cofounder, Pacman, who doxxed himself to face its burgeoning community, earns a spot on CoinDe...
Logik's image of Pacman for Most Influential 2023.

Decentralized finance activity is starting to pick up. (Alina Grubnyak/Unsplash)
There Are Tentative Signs of Revival in DeFi and NFT Markets, JPMorgan Says
Expectation of U.S. approval of a spot bitcoin ETF has led to an increase in DeFi and NFT activity in recent months, the report said.
Decentralized finance activity is starting to pick up. (Alina Grubnyak/Unsplash)