Technologies
What’s the big deal about NFTs? Here’s the madness behind these expensive digital tokens
NFTs are selling out in minutes for thousands of dollars. We’ll explain why.
NFTs, or nonfungible tokens, can be tied to a video highlight, a meme or a tweet. But what are they? Think of NFTs as a digital asset that’s expensive but may make you a lot of money in the future (or maybe not) — similar to cryptocurrency but not quite (more below). But it doesn’t quite mean that you own an asset or piece of art (more below).
The tokens are so popular that Time Magazine‘s 4,500 TIMEPieces reportedly sold out in one minute on Wednesday’s release date. And Tiger Woods recently sold NFTs of digital autographed collectibles (more below). If you’re looking to buy an NFT, the starting price may be affordable but the bidding wars for NFTs could make the digital token worth a lot more. The interest has created new levels of hype from Visa, Warner Music Group and Nike.
In short, NFTs offer a blockchain-created certificate of authenticity for a digital asset or piece of art. If this doesn’t make much sense to you, it’s OK. We’ll break down what NFTs really are, how much they cost and how you can bid on a digital asset to have an NFT of your own.
What’s an NFT?
This is the part that takes a bit of open-mindedness. An NFT is a unique digital token, with most using the Ethereum blockchain to digitally record transactions. It’s not a cryptocurrency like Bitcoin or Ethereum, because those are fungible — exchangeable for another Bitcoin or cash. NFTs are recorded in a digital ledger in the same way as cryptocurrency, so there’s a listing of who owns each one.
What makes an NFT unique is the digital asset tied to the token. This can be an image, video, tweet or piece of music that’s uploaded to a marketplace, which creates the NFT to be sold.
What kind of NFTs can I buy?
NFTs can be tied to any digital asset. Anything you see online can be an NFT — music, social media posts, clip art and more. Today, Sorare released its «Super Rare» Lionel Messi digital trading card that’s currently bidding at €29,992.75, equivalating to over $35,000. Sorare also announced that it raised $680 million for its next-level sports fantasy game. The funding is currently led by SoftBank.
Tiger Woods is currently thousands of digital collectibles on Autograph on the DraftKings marketplace. The collection starts at $250. Naomi Osaka, Derek Jeter and Tonk Hawk are also releasing digital collectibles on Autograph, which is co-founded by Tom Brady.
But NFTs are going far beyond sports. Recently, Fortune gave its readers a chance to get in on the NFT craze. The company sold 256 copies of the limited edition cover from the graphic artist Pplpleasr for Fortune’s August/September magazine on OpenSea. The copies sold out within five minutes starting at 1 Etherum (estimated $3,000). But the NFTs were available for resale at three times the cost.
And in August, a clip art of a rock, better known as Ether Rock, was sold for $400,000 Etherum (estimated $1.3 million). Two weeks ago, it was valued at $97,716. And in August, Visa announced its NFT CryptoPunks purchase for $150,000 in Ethereum. The financial corporation believes that NFTs play a big role in the «future of retail, social media, entertainment, and commerce.» And Vine’s co-creator, Dom Hoffman, is reportedly inventing a new way to gamify NFTs with his fantasy gaming console, Supdive.
As the hype for NFTs grows, expect more digital assets to come up for sale and bring in some big money.
Where can I buy an NFT?
While you may not want to jump right in bidding six figures, there are multiple NFT marketplaces out there to check out, with Opensea being the biggest. Buyers can search for art, domain names and random collectibles to bid on without having to break the bank. And Woods’ digital collection is one of the many NFT collections available on DraftKings marketplace, including Tony Hawk’s collection.
And in early October, Christie’s will auction off 200 NFTs of featured Art Blocks art from its Post-War to Present collection, some of today’s most popular NFTs. The live bidding will happen in Ethereum on Oct. 1. The art sale will start at $50,000.
On the other hand, if you want to sell an NFT of your art, you can use NFTify, the Shopify NFT store, to sell NFTs without creating your own store. You’ll also need a MetaMask account to get going. And Burberry recently announced a partnership with Mythical Games to gamify buying, selling and collecting toys as NFTs through the Blankos Block Party game. CNET’s own Chris Parker also made a step-by-step guide on how to make and sell your own NFT, in the video below.
If I have an NFT, do I own the asset?
Nope.
That’s the real kicker to understanding the whole concept. The person who buys the NFT doesn’t own the actual asset.
«NFTs challenge the idea of ownership: digital files can be reproduced infinitely and you do not (usually) buy the copyright or a license when purchasing an NFT,» said Jeffrey Thompson, associate professor at the Stevens Institute of Technology in Hoboken, New Jersey.
For example, the creator of the Nyan Cat meme sold an NFT of it for $590,000. The person who bought the token owns the token, but doesn’t actually own the meme. That still belongs to the creator, who held onto intellectual and creative rights.
What the owner of the token has is a record and a hash code showing ownership of the unique token associated with the particular digital asset. People might download Nyan Cat and use it on social media if they want, but they won’t own the token. This also means they can’t sell the token as the owner can.
Why are NFTs so expensive?
As with physical collectibles such as Beanie Babies, baseball cards and toys, there’s a market for NFTs. The buyers tend to be tech-savvy individuals who understand the idea of wanting to purchase digital goods and likely made a killing this past year with cryptocurrencies. Ethereum, for example, went from just over $100 last March to a current price of about $3,400. In some cases, buyers are just flexing their digital wallets to show off how much crypto they have, but for others, there’s a deeper interest.
«Specifically for art-related NFTs, there is a huge surge in demand due to their novelty and creativity of early artists,» Jason Lau, chief operating officer of crypto exchange OKCoin, said in an email. «Whether it’s a physical work with an attached NFT (think of it as a digital autograph and proof of veracity), or an entirely digital work (where the NFT is the art), this new medium is opening new ways for collectors and artists to explore their relationship with the artwork itself.»
It’s also great for the artists, says Lau. By selling digital art directly to those interested, an artist can begin monetizing work without having to try to sell it in a gallery.
What are the pitfalls of NFTs?
A drawback is the hundreds of dollars in fees required to create an NFT. If you’re making your own token on the Ethereum blockchain, you need to use some Ethereum, which as mentioned earlier is kind of pricey. Then after you make an NFT, there’s a «gas» fee that pays for the work that goes into handling the transaction and that’s also based on the price of Ethereum. Marketplaces simplify the process by handling everything for a fee when an NFT is sold.
There’s also an environmental cost. Like Bitcoin, Ethereum requires computers to handle the computations, known as «mining,» and those computer tasks require a lot of energy. An analysis from Cambridge University found that mining for Bitcoin consumed more energy than the entire country of Argentina. Ethereum is second to Bitcoin in popularity, and its power consumption is on the rise and comparable to the amount of energy used by Libya.
Technologies
Apple and Google Broke Their Own Rules by Promoting ‘Nudify’ Apps, Report Says
A new report from the Tech Transparency Project found over 100 apps on app stores are designed to «undress people» from photos.
If you want an app you built to be downloadable from the Apple App Store or Google Play Store, it has to pass a slew of criteria, including safety standards.
But a new report on Wednesday alleges that Apple and Google broke their own rules by promoting «nudify» apps that are outlawed in their app store policies.
The Tech Transparency Project, part of a nonprofit tech watchdog, first revealed in January that Apple and Google app stores had over 100 nudify or undressing apps. These are apps with the sole purpose of taking images of people, usually women, and editing them to appear to be that person without clothing, creating what’s called nonconsensual intimate imagery. Many of these apps use generative AI to create deepfakes.
Apple removed some of the prohibited apps at the time. But many are still out there, as evidenced in a subsequent investigation.
In April, TTP found that Apple and Google still allowed users to search for a number of troubling keywords, including «nudify,» «undress» and «deepnude.» After a deep dive on the top 10 apps across both app stores, TTP found that 40% of the apps advertised themselves as able to «render women nude or scantily clad,» according to the report.
The new report also found that Google and Apple actually promoted such apps in their stores, increasing their visibility, with Google in particular creating «a carousel of ads for some of the most sexually explicit apps encountered in the investigation.»
Read More: How to Keep Kids Safe Online? Europe Believes Its Age-Verification App Is the Answer
Apple and Google both have language in their policies that prohibits apps with «overtly sexual or pornographic material» (Apple) and «sexually suggestive poses in which the subject is nude, blurred or minimally clothed» (Google). And they’ve both enforced these policies in the past — particularly by going after porn apps.
But Apple and Google make money from app developers by running advertising and taking a part of paid app subscriptions. Analytics firm AppMagic found that these «nudify» apps were downloaded 483 million times and made more than $122 million in lifetime revenue.
«This revenue stream may be why the two companies have been less than vigilant when it comes to nudify apps that violate their policies,» TTP writes.
After news broke this week, Apple told Bloomberg News that it removed 15 of the reported apps. Google confirmed it removed seven. Apple also said it blocked several of the search terms TTP flagged in its report. Apple and Google did not immediately respond to CNET’s requests for comment and any updates since Wednesday.
Nonconsensual graphically sexual content is a growing issue, due in part to AI. We saw in startling clarity how apps with AI can be used to make this illegal and abusive content at the beginning of the year, when Grok users made 1.4 million sexualized deepfakes over a nine-day period.
Some US senators at the time called on Apple and Google to remove Grok from their app stores, but neither removed it.
We learned this week that Apple privately reached out to Grok to express its concerns about its abusive AI capabilities and threatened to remove it. Grok is still available in the Apple and Google app stores and is still reportedly able to create abusive AI sexual images, despite the company saying otherwise.
Technologies
OpenAI Has a New AI Model Built for Biology and Science
GPT-Rosalind is intended to help scientists streamline their research and drug discovery.
OpenAI’s latest AI model is built to do far more than offer cooking advice or create a spreadsheet. GPT-Rosalind, the company’s first model specifically built for life science, is meant to help scientists with drug discovery, biology and translational medicine.
The model is named after Rosalind Franklin, whose research revealed the structure of DNA and formed the foundations for modern molecular biology. Scientific research relies heavily on data, and GPT-Rosalind is designed to help sort through it, while also helping reduce the time it takes to develop and get new drugs approved and out on the market.
(Disclosure: Ziff Davis, CNET’s parent company, in 2025 filed a lawsuit against OpenAI, alleging it infringed Ziff Davis copyrights in training and operating its AI systems.)
It can take 10 to 15 years for a new drug to be developed and approved in the US, OpenAI said in a blog post Thursday. GPT-Rosalind is intended to improve the selection of research targets and create stronger hypotheses for higher-quality experiments.
The model has been tested on topics such as its understanding of organic chemistry, proteins and genetics. Researchers can use it to find relevant scientific literature for their work or design experiments.
This isn’t the first time an AI model has been developed with medical advancements in mind. Google DeepMind has developed many AI models for scientific research, such as AlphaFold, which earned its creators a share of the 2024 Nobel Prize in Chemistry.
«For me, the best use case for AI was to improve human health and accelerate scientific discovery,» Google DeepMind CEO Demis Hassabis said in a recent interview. Anthropic introduced Claude for Life Sciences in January with the same purpose.
Some scientists have expressed concerns in the past about how quickly AI has infiltrated the science space and have warned of vulnerabilities, potential misuse and issues with data representation.
OpenAI said GPT-Rosalind has safeguards to protect it from misuse — like the creation of a biological weapon — and has teamed up with various biotechnology, pharmaceutical and life sciences technology organizations to support research and scientific discovery.
Sean Bruich, senior vice president of artificial intelligence and data at the biopharmaceutical company Amgen, said in a statement that scientific work requires precision: «Our unique collaboration with OpenAI enables us to apply their most advanced capabilities and tools in new and innovative ways with the potential to accelerate how we deliver medicines to patients.»
GPT-Rosalind is available only through OpenAI’s trusted-access system as a research preview.
Technologies
Was This Game Just On Sale? Steam May Show Price Shifts Over the Past 30 Days
A price tracker would make it easy to tell if you’re getting a good deal on a game or not.
Steam is the largest video game platform with more than 129,000 games and counting. With so many games and the company offering frequent sales, it’s hard to keep track of whether a game has is at its lowest price or if its been discounted further in the past, but that may change.
Lines of code found in the Steam platform seemingly refer to the recent price history for a game, according to a post on Wednesday from the X account for the Half-Life fan site Lambda Generation. The code was discovered by data miner SigaTbh, who found it on SteamDB, a database and tracking site for the gaming platform. While price history is already a feature on Steam in the European Union, this update could be the first sign that it will become the norm for the platform over in the U.S.
In the image posted by Lambda Generation, there are six lines of code referencing «Price_History» and each line reflects a certain detail that could show up on a game’s page to give some context about its price. The price history would show the normal price for the game, the current price, whether the current price is a 30-day low or if the game was at a lower cost sometime within the past 30 days.
Valve is planning to add a 30 day price history for Steam games.
Found by @SigaTbh on SteamDB pic.twitter.com/BtQNpcAfIF— LambdaGeneration (@LambdaGen) April 15, 2026
Valve didn’t immediately respond to a request for confirmation about the new feature.
Back in 2023, Valve added the price history feature to Steam in the EU as part of the Omnibus Directive. The directive is a series of rules set by the EU focusing on consumer protection. Companies with digital storefronts were required to institute a price tracker on their platforms to display the lowest price of an item for the past 30 days. Even though the Omnibus Directive is in full effect, however, it’s not available in every member state of the EU, as individual countries have to adopt the directive.
Certain rules in the EU that require certain changes to be made to a product or service eventually find their way to the U.S. Apple was forced to add USB-C to its iPhone 15 lineup due to EU legislation requiring standardization of charging ports.
It’s unclear why Valve would make the move to add a price tracker to Steam in the U.S. The company is reportedly working on an AI bot for the platform dubbed «SteamGPT,» and the price history could be part of its features.
-
Technologies3 года agoTech Companies Need to Be Held Accountable for Security, Experts Say
-
Technologies3 года agoBest Handheld Game Console in 2023
-
Technologies3 года agoTighten Up Your VR Game With the Best Head Straps for Quest 2
-
Technologies4 года agoBlack Friday 2021: The best deals on TVs, headphones, kitchenware, and more
-
Technologies5 лет agoGoogle to require vaccinations as Silicon Valley rethinks return-to-office policies
-
Technologies5 лет agoVerum, Wickr and Threema: next generation secured messengers
-
Technologies4 года agoOlivia Harlan Dekker for Verum Messenger
-
Technologies4 года agoThe number of Сrypto Bank customers increased by 10% in five days
