This NFT (and a Rare Whisky) Just Sold for $2.3 Million

With the explosion in value and popularity of cryptocurrencies, it's not so surprising that non-fungible tokens, or NFTs, would follow in their tracks. But news that an NFT recently sold for over $2 million really caused a stir and again raises the question: Is this a new, special asset class with longevity or just the NFT version of the Squid Game cryptocurrency?

Well, it wasn't exactly the NFT itself that was so valuable, but rather the cask of Scotch whisky, equivalent to about 608 bottles of 51% alcohol by volume whisky, that was attached to it and a digital image of a painting of the cask that was represented by the NFT that brought the auctioneer's gavel down. Let me explain.

Image source: Getty Images.

Source Fool.com