What to Know About Blockchain, Crypto & NFTs

It’s hard to read an article, browse the internet, or watch TV without encountering the words “blockchain,” “cryptocurrency” or “NFT.” There are an uncountable number of ads for new products and services that promise use of the blockchain to provide existing service offerings in a new and innovative way. You likely have seen ads on TV with famous athletes and actors telling you to buy cryptocurrency and seen stories on the news about people buying or selling NFTs, increasingly for mind-boggling amounts. Many of your favorite companies and brands may also now have NFT offerings. But what do these terms mean, and how do these technologies work? This short overview seeks to answer these questions in simple and relatable terms. As this primer attempts to simplify complicated technologies and systems, it should be noted that some measure of detail has been sacrificed for the sake of understandability. Similarly, these technologies are evolving rapidly, so the state of the market today may not be the state of the market next week or next month. In the…