NFTs are not the only Tokens

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The craze for NFTs or non-fungible tokens, which are nothing but digitalised assets of anything from drawings, art, music to even a hypothetical brain download made into an AI, has taken everyone by surprise. This is yet another example of retail investors expressing their desire for innovative assets; newer forms of digital assets in this case. A Reuters report pegged the collective volume of the NFT sales in the first half of this year at well above $2.5 billion and it is now clocking $1.24 billion a quarter with 10,000 to 20,000 new accounts being created every week. Indian investors are also joining the party. According to a report by The Economic Times, WazirX sold over 160 pieces of digital art in just one month after the launch of its NFT marketplace. NFTs have piqued the interest of the new-age collectors as well as artists, who now think they will have a wider market base to sell their products. But what is an NFT? What is one really buying? And what does one need t
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