NFTs: Animated explainer of Non-Fungible Tokens as Bored Ape Yacht Club NFTs value goes past $1 billion

The video discusses the rise of Bored Ape Yacht Club NFTs, which have surpassed $1 billion in sales, driven by celebrity interest. NFTs are digital assets tied to a blockchain, primarily Ethereum, representing unique ownership. Unlike traditional currencies, each NFT has distinct value based on rarity. The concept of digital scarcity is explored, where blockchain technology secures asset origins, enhancing value. However, NFT ownership often excludes copyright and distribution rights. The financial appeal is likened to owning an original artwork versus a print.

What role do celebrities play in the popularity of NFTs?

Discuss the implications of copyright in the context of NFTs.