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ARTICLE · 03 APRIL 2021

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NFTs: A Primer On The Trending Crypto Phenomenon

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On March 22, 2021, Jack Dorsey, Twitter's CEO, sold his first tweet as a Non-Fungible Token (NFT) for approximately US$2.9 million

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On March 22, 2021, Jack Dorsey, Twitter's CEO, sold his first tweet as a Non-Fungible Token (NFT) for approximately US$2.9 million. Shortly after, Sophia the robot, an AI humanoid by Hanson Robotics, was trending on Twitter after she announced she would be auctioning a jointly created digital artwork in the form of an NFT - the first sale of its kind.

So, what does this all mean, and why should it matter to you? NFTs are an exploding crypto phenomenon with players from different industries, including the music, art, fashion, gaming, and sports industries, which sometimes intertwine. By way of example, avatar company Genies recently announced its partnership with Billboard Chart-topper Shawn Mendes and NFT seller OpenSea to drop one-of-a-kind collectible NFTs.

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