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Are NFTs a Good Investment? Many Los Angeles VCs Aren’t Convinced

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Non-fungible tokens—better known as NFTs—have gone mainstream in the past year, with everyone from major art auction houses to Hollywood movie studios buying into the hype.

NFTs are unique pieces of data tracked and stored on blockchains like Ethereum. They’re usually associated with digital images, such as cartoon apes or the artist Beeple’s $69 million digital collage. NFTs offer a record of ownership that is verifiable through a digital ledger, opening up a whole range of possibilities for digital assets that people can buy, sell, and transact with.

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