What are NFTs, or Nonfungible tokens, and why are they exploding in popularity?

What are NFTs, or Nonfungible tokens, and why are they exploding in popularity?

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Nonfungible tokens, or NFTs, have exploded onto the digital art scene this past year. Proponents say they are a way to make digital assets scarce, and therefore more valuable. WSJ explains how they work, and why skeptics question whether they’re built to last. Photo Illustration: Jacob Reynolds/WSJ

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