Why are some NFTs worth millions?

NFT stands for a non-fungible token. Whereas a fungible commodity is replaceable by another identical item (mutually interchangeable goods), non-fungible items are unique and have no identical substitutes. Therefore, NFTs represent digital art or physical objects rather than money. Photos, GIFs, videos, audio files, memes, tweets, game characters, vehicles, buildings and spaces, ammunition, and any […]