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Non-fungible tokens, or NFTs, have been making headlines lately as their prices have soared to astronomical heights. They've changed the way people view art — and investors have noticed. In 2021, the NFT market generated around $25 billion in trading volume. While the hype has died down a bit in the last few months, the market is still going strong.
So, what exactly are NFTs? Simply put, they’re unique digital assets that cannot be replaced. That's because each NFT is stored on a blockchain, a decentralized ledger that records all transactions. This makes NFTs immutable, meaning they cannot be altered or duplicated.
Will the NFT market continue to grow? Only time will tell. For today, we’ll look at the 17 most expensive crypto art NFTs ever sold.
Before we move on to the list, we should answer one frequently asked question: Why are NFTs so valuable?