In August, a bit of digital art—a picture of a rock, no less—sold for 400 Ethereum, or just about $1.3 million. That same month, a digital image of an ape with lasers shooting out of his eyes sold for $11.7 million at Sotheby’s, the 277-year-old auction house. And a Chromie Squiggle, a computer-generated image of a short, squiggly line, sold for $2.44 million.
All are nonfungible tokens, or NFTs. Perhaps you’ve heard of them.