With the rising market growth of non-fungible tokens (NFTs), more projects are launching into the NFT marketplace. In August, the digital marketplace OpenSea recorded over $3.4 billion in transactions across 1.67 million non-fungible tokens. In July, its sales reached $325 million, following less than $150 million in June. The exponential growth corresponds to a shift in NFT content being auctioned, which may impact the development of digital strategies by brands and sports entities.
 
Briefly speaking, the current application of NFT is selling the ownership of "illustrations& gif". One can "own" popular pictures on the internet through an auction.
What is NFT
Famous meme NFT Nyan Cat sold for 300.00 ETH (about $590,000) in an online auction....