The recent trend toward the approval of cryptocurrency – and the subsequent financial investment – has dramatically boosted a crypto cousin’s value, especially over the past week or so.

The cousin is basically a digital collectible, and it’s not fungible (like oil or gold or other materials with a physical footprint). So important is the state of fungibility, if you will, that these collectibles are better known as “NFTs” or non-fungible tokens.

How do you measure the vale? Like any product or service, it’s worth what consumers are willing to pay – and they’re paying thousands of dollars for these tokes, which range from comic-book covers to sports memorabilia to any kind of art in between.

In a CNBC story, Sheldon Corey from Montreal, Canada, said he paid $20,000 for a computer-generated avatar from the menu provided by CryptoPunks.

Wait, what is CryptoPunks?

Its developers, Larva Labs, debuted CryptoPunks in 2017. But its past seven days, according to the website, produced a sales volume topping $40 million.

Among the specific NFTs are CryptoKitties, yep, digital cats, and NBA Top Shot, a platform on which highlights from top basketball players are bought and sold.

These collectibles can come with JPEGs or GIFs; they can be attached to tweets, MP3s, or any other type of digital file and the tie-in to ethereum allows proof of individual ownership.

The market is booming.

Earlier this month, a couple of video gamers with a ton of disposable income, apparently, spent $1.5 million worth of crypto to buy an NFT for digital land plots in the game Axie Infinity.

In a story last week, Masha Vyazemsky, communications director for the NFT startup Rarible, said her platform facilitated roughly $5.6 million worth of NFT transactions by 6,482 users in the preceding month alone.

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