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If you’re on any form of social media, you may have already heard of NFTs. NFT stands for “non-fungible token,” a tradeable digital asset that cannot be replicated or replaced with something identical. NFTs are images or other assets that can be bought and sold on a crypto blockchain.
The crypto boom of 2021 drew NFTs into the limelight, although the concept of an NFT has existed on blockchains since the first NFT — Quantum — was minted in 2014. So how popular have NFTs become in 2022? How many people are buying, selling, and trading them, and how many people plan to?