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BAYC NFTs Crash to 150-Week Low Amid Market Decline Non-fungi | Metaverse | Nfts | News

BAYC NFTs Crash to 150-Week Low Amid Market Decline

Non-fungible tokens (NFTs) are unique cryptographic tokens representing ownership of digital items. They offer various use cases, such as in-game assets, ticketing, and artwork representation. However, the NFT category is mainly associated with digital artwork, with the tokens serving as certificates of authenticity and ownership. NFTs burst into mainstream consciousness in March 2021 with the record-breaking $69.3 million sale of Beeple’s “The First 5,000 Days.” This event sparked an explosion of NFT collections eager to ride the hype train.

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