A Look Into the Valuable Properties of NFTs
DeFi projects on Ethereum have attracted so many users over the last year that gas fees on Ethereum have risen to levels thNon-fungible tokens (NFTs) have soared in popularity in just the last few months, but questions abound regarding NFT valuations. In this piece, we provide our thoughts on the components that we believe drive value in NFTs. We also examine how these attributes appear in some of the most valuable NFTs, as measured by average sales on NFT marketplace OpenSea, including CryptoPunks, Hashmasks, and Autoglyphs.
A non-fungible token (NFT) is a digital token that is unique. An NFT typically bestows ownership to an object it represents: often digital art, virtual collectibles, and virtual items of some sort, each with distinct properties.