What’s up all, it’s your sis Shay Sayss. Welcome back to Bold In The Know. Be sure to like, subscribe, and hit that notification bell for all things Bold.

Let’s talk understanding NFTs. What are NFTs? With all of the recent news, you would think NFTs were created yesterday. But in fact, that is not the case.

NFTs, or non fungible tokens, each represent a unique individual item. As such, they are not interchangeable like Bitcoin, Ethereum, or any other cryptocurrency.

In these recent news, many artists are getting involved with NFTs and selling their art as NFTs. When an artist sells an NFT, the artist has a licensing agreement. Not only that, but these artists are also receiving royalties each time the NFT resells.

According to the New York Post, a Brooklyn based film director has sold an audio clip of a fart for $85. And rapper Azealia Banks, with her ex Ryder Ripps, sold an audio clip of their sex tape for $18,000.

Kings of Leon will become the first artist to sell an album as an NFT. The album will also be available to stream, but purchasing the NFT will give the buyer limited edition artwork, a lifetime of front row seats, and more.

Elon Musk proposed selling a tweet of his as an NFT and received a bid worth over $1.1 Million.

What do you think? Is this a better, if not ethical, way to sell art? What you select as an NFT? Let us know in the comments.

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