NFTs and Their Controversy

Hopewell Valley Student Podcasting Network Show Name:  All About BusinessEpisode #6:  NFTsTweet to be shared on the network’s twitter handle: Check out the latest episode of #allaboutbusiness the podcast on hvspn.com. We give a brief overview about NFTs, what they are, how they work, examples of NFTs, and we will be hearing from a couple guests who will give their opinions on NFTs. You are listening to All About Business, the podcast with your host(s) Prithvi. In this episode of All About Business  the Podcast we discuss: what NFTs are, how they work, examples of NFTs and we will be hearing from my 2 guests on their opinions about NFTs.  Segment 1: What are NFTs and how do they work? In this segment I will be explaining what NFTs are.  NFTs stand for non-fungible tokens. They are unique non-interchangeable units of data stored on a digital ledger. NFTs can be anything digital but are mostly pieces of digital art that are verifiable assets that can be easily traded on the blockchain. In simpler terms they are essentially digital trading cards that people can buy and sell. Each NFT is unique, no two NFTs are the same. Most NFTs are part of the Ethereum blockchain, and can be purchased on various websites and marketplaces.  Usually people buy NFTs with Ethereum, and most NFTs can be extremely expensive, some selling for millions of dollars. But, are they worth it? If you really appreciate artwork and you have the money then go ahead. But, all NFTs can be copied meaning even if you bought it others can take it just by copying the URL itself. On the other hand, making and selling an NFT is pretty simple. All you need is a digital wallet, a small purchase of Ethereum, and a connection to an NFT marketplace. After that all you have to do is make a piece of digital art and upload it onto a marketplace. Then buyers may come across your art and buy it. NFTs can quickly balloon and value if they become popular, some have been sold for up to $69.3 million. Speaking of popular N