Gartner published a research in August 2021 that mapped emerging technologies along a " hype cycle ," which depicts the evolution of new sectors and products. It positioned nonfungible tokens, or NFTs, at the apex of a curve known as the " Peak of Inflated Expectations "—a point in time when a technology receives a lot of favourable and bad press, luring some companies in while frightening off others. What's an NFTs or Non Fungible Token? A digital asset that depicts real-world elements like as art, music, in-game items, and films is known as an NFT. They're bought and traded online, often using cryptocurrency, and they're usually encoded with the same software as many other cryptos. Despite the fact that they've been there since 2014, NFTs are gaining popularity currently as a popular means to buy and sell digital artwork. Since November 2017, a whopping $174 million has been spent on NFTs.
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