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What is NFT art and why did Grimes just make $6 million on it?

NFTs, or “non-fungible tokens,” are the latest way that celebrities are getting rich off of their work. If that multi-hyphenate acronym went over your head, worry not. We’re here to explain what NFTs are and how artists, athletes and others have managed to make millions selling digital of files themselves on the internet.

For example, the singer-songwriter Grimes has made around $6 million off of NFTs of animations set to her music. Also, an NFT of the iconic Nyan Cat sold for $560,000 at auction and Linkin Park’s Mike Shinoda is selling his own NFT’s for thousands. Not to mention, the entire NBA Top Shot industry itself is also based on NFTs.

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