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Nyan Cat, a 2011-era GIF of a cat with a pop-tart body, sold for nearly $600,000 in February. And NBA Top Shot generated more than $500 million in sales as of late March. We've combed through the leading exchange offerings, and reams of data, to determine the best crypto exchanges. It’s generally built using the same kind of programming as cryptocurrency, like Bitcoin or Ethereum, but that’s where the similarity ends. NFTs are also generally one of a kind, or at least one of a very limited run, and have unique identifying codes. Validators check that the transaction is valid and then add it to their databases. There are lots of crypto-economic incentives in place to make sure validators are acting honestly. Otherwise, anyone could just claim that they own the NFT you just minted and fraudulently transfer ownership. This works in a similar way to a website domain name which makes an IP address more memorable. And like domains, ENS names have value, usually based on length and rel