The Atlanta Hawks are soaring into the non fungible token craze. The collection of hand-drawn, digital images of “Harry the Hawk” went on the auction block March 14. Bidding started at $50. Some NFTs went for more than $1000.
That dramatic jump in price is emblematic of how folks are willing to shell out a fortune for NFTs — we’re talking more than what an original Picasso might cost. An NFT by the digital artist known as Beeple sold last March for nearly $70 million in a similar online auction.
Once purchased, the “Harry the Hawk” NFTs live on blockchain technology, which is basically a digital ledger that logs transactions. Those transactions cannot be forged or counterfeited.
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