Non-Fungible Token (NFT)
● Active
Concept
NFT
An NFT is a unique digital token stored on a blockchain that proves ownership of a specific digital item — art, music, video, game items, or anything else. Unlike currencies, each NFT is distinct and cannot be directly exchanged 1:1 for another. The NFT boom of 2021 saw billions traded, before a sharp market correction.
FTX Collapse
✕ Dead
Concept
Exchange Failure
FTX was once the world's second-largest cryptocurrency exchange. In November 2022, a report revealed FTX's balance sheet was dominated by its own FTT token. A bank run ensued, revealing an $8 billion hole — customer funds had been secretly lent to SBF's trading firm Alameda Research.