Looking to Invest in NFTs? This Stock Could Be the Answer
You might be looking into non-fungible tokens (NFTs) after seeing images of things called "CryptoPunks" or "Bored Apes" sell for thousands (and millions) of dollars on the internet. NFTs are the latest craze, yet most people are still trying to understand them.
NFTs have capabilities that could make them valuable in the digital economy, but they are so new, it's hard to put a value on them. Looking at the cryptocurrency platform Coinbase (NASDAQ: COIN) might be a good place to start. Here's how the company's planned NFT marketplace can help investors profit from NFTs without having to buy any.
Investors look at NFTs and see images, but what's essential about NFTs is the part that you can't see with the naked eye. Built on the blockchain (technology that creates and tracks digital records of transactions or ownership on networks of computers), NFTs are unique digital assets. In other words, an NFT has a digitally verifiable fingerprint that makes it unique. Even if you copied the image, it would be like a replica of a painting; it still wouldn't be the original.
Source Fool.com
