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.

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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.

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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

Samsung’s Wild-Looking Tri-Fold Phone Debuts at APEC Summit in South Korea

The Galaxy phonemaker showed off a twin-hinged foldable at a Korean consumer tech show.

Samsung unveiled its first triple-display foldable phone for consumers at a tech exhibition hall during the APEC CEO Summit in South Korea. The Korean publication Dailian reported that the new phone will launch in November or December.

The tri-fold phone, which doesn’t have an official name yet, was revealed as a prototype on display. Whereas the Galaxy Z Fold 7 and Galaxy Z Flip 7 fold in half along one hinge, Samsung’s next device folds in two places to be as compact as a typical smartphone with a 6.5-inch outer screen, then unfolds for a tablet-size 10-inch screen, according to The Chosun Daily. Compare that with dual-screen foldables that have inner screens measuring approximately 8 inches. The Z Fold 7 has a single crease on its main screen; the new tri-fold could have two creases.

Samsung has been at the forefront of foldable phones since releasing the first Galaxy Fold in 2019 and the Galaxy Z Flip in 2020. At the time, it faced fierce competition from Motorola and Huawei — the latter of which gained a significant lead in 2024 with its own tri-fold Huawei Mate XT, which was followed by a second version. Samsung’s launch of its own competitor keeps the company in the game.

Here’s your first look at the Samsung Galaxy Z TriFold.
Screen when folded: 6.5-inch
Screen when unfolded: 10-inch
It might be announced later this week.
Source: Chosun Media pic.twitter.com/EhT4i1hW2k

— Trakin Tech English (@trakinenglish) October 28, 2025

These two consumer tri-folds have their differences. The Huawei Mate XT’s two hinges fold in opposite directions like an accordion, giving it a Z shape, while Samsung’s device has two screens that fold inward in what Dailian (through Google Translate) asserts is «G-shaped.» Given that Samsung has branded its foldable line as the Z-series, it’s ironic that the company didn’t adopt that shape and format for its tri-fold.

Samsung didn’t release any more details about its tri-fold, though Dailian expects it to be even pricier than the Galaxy Z Fold 7, which starts at $2,000in the US. From photos of the device — apparently a prototype — behind glass, you can see a front-facing camera on the inner display (when unfolded) and outer screen (when folded up). But since Samsung also didn’t show the device folding, there are a lot of questions about its durability and capability before its supposed launch in a month or two.

It’s not a total surprise to see Samsung’s tri-fold ready to go. For years, the company has displayed various flexible display designs, including three-screen formats, during CES. In the last few months, there’s been a steady flow of rumors and outright executive confirmations that Samsung was gearing up to unveil its tri-fold. Now we’ll have to see whether the company that’s fought so hard to be at the forefront of smartphone design can release another format that dominates the folding phone niche — all before one of its biggest rivals, Apple, even releases its first foldable.

Samsung didn’t respond to a request for comment.

Technologies

Be Wary of AI Videos as Hurricane Melissa Hits Jamaica. How to Spot a Fake

AI-generated storm videos are spreading rapidly online. Here’s where to find reliable information.

As Category 5 Hurricane Melissa bears down on Jamaica with winds topping 180 mph, social media is being hit by a surge of AI-generated and misleading videos, showing catastrophic flooding, collapsing buildings and rescue scenes that never happened.

Across X, TikTok, Instagram, WhatsApp and other social media platforms, fake clips spread quickly, racking up millions of views in hours. Many of these videos are spliced footage from past storms or clips created entirely with text-to-video AI tools.

In times of crisis, like a dangerous and imminent natural disaster, these fake videos can create confusion, panic and distraction at a time when accuracy can be life-saving.

Natural disasters have always bred rumors and recycled footage, but the rise of AI-generated video has supercharged the problem. Tools like OpenAI’s Sora and other AI-video platforms can render realistic-looking images of storms, floods and damage scenes in seconds, reaching millions online in just a few hours.

Read also: The Deepfakes Are Winning. How Can You Tell if a Video Is Real or Sora AI?

Don’t miss any of our unbiased tech content and lab-based reviews. Add CNET as a preferred Google source.

Why storms are a magnet for fake news

Storms are visual, emotional and fast-moving, which is the perfect recipe for viral misinformation. In years past, videos were often taken out of context or labeled as a different storm. Now, they can be digitally fabricated from scratch.

Some depict apocalyptic flooding that hasn’t occurred, while others claim to show «real-time» conditions hours before landfall. Several videos that have circled this week include images of sharks swimming in the storm surge and unsettling depictions of human suffering.

False videos like these can exaggerate the danger of the storm, create panic, undermine trust and distract emergency responders, as misinformation pulls attention from verified reports.

The following three videos are all fake. They are labeled (albeit briefly) with the Sora watermark, which indicates they were made in OpenAI’s video generator.

How to separate truth from fiction online

When social feeds fill with dramatic hurricane clips, it’s important to separate truth from fiction.

«You have to be very discerning,» Senator Dana Morris Dixon, Jamaica’s information minister, said. «You have to know what is good information from bad information. If you want to know where the storm is going, if you want to know what to do, you need to look for official sources.»

Dixon highlighted that the Jamaica Information Service, Office of Disaster Preparedness and Emergency Management’s information sites and the Office of the Prime Minister page are resources for legitimate, timely updates.

Here are some ways to be discerning.

Check the source. If the video comes from an unfamiliar account, lacks a timestamp or carries no recognizable media branding, assume it is fake until verified. Also, look for the Sora watermark indicating it was made in OpenAI’s app, or read the comments to see if someone else has flagged the video as fake.

Ask yourself if it’s new and local. Does the geography match Jamaica? Is the footage recent? Many «Melissa» clips could actually be from past Caribbean or Gulf storms.

Cross-check before believing. Confirm through trusted outlets, like the Meteorological Service of Jamaica and the US National Hurricane Center, or established media like the BBC, Reuters or the Associated Press.

Pause before sharing. A viral video can cause harm if it spreads misinformation. Wait until a credible source verifies it before reposting.

Go local. If you’re in the affected area, rely on local emergency agencies, radio stations and city or county-level officials for evacuation and safety updates.

Monitor official alerts. For real-time instructions, stick with government channels and local emergency feeds. Your safety depends on accurate information, not viral content.

As AI-generated media becomes easier to produce, hurricanes like Melissa offer a preview of a new reality: one in which you can’t trust much of the information you see online.

Staying safe means being skeptical and diligent when looking for accurate and even lifesaving news.

Read also: What Is AI Slop? Everything to Know About the Terrible Content Taking Over the Internet

Technologies

Today’s NYT Strands Hints, Answers and Help for Oct. 29 #605

Here are hints and answers for the NYT Strands puzzle for Oct. 29, No. 605.

Looking for the most recent Strands answer? Click here for our daily Strands hints, as well as our daily answers and hints for The New York Times Mini Crossword, Wordle, Connections and Connections: Sports Edition puzzles.

Today’s NYT Strands puzzle is a fun one for English majors. Some of the answers are a bit tough to unscramble, so if you need hints and answers, read on.

I go into depth about the rules for Strands in this story.

If you’re looking for today’s Wordle, Connections and Mini Crossword answers, you can visit CNET’s NYT puzzle hints page.

Read more: NYT Connections Turns 1: These Are the 5 Toughest Puzzles So Far

Hint for today’s Strands puzzle

Today’s Strands theme is: «Nevermore!»

If that doesn’t help you, here’s a clue: Poem by Edgar Allen Poe.

Clue words to unlock in-game hints

Your goal is to find hidden words that fit the puzzle’s theme. If you’re stuck, find any words you can. Every time you find three words of four letters or more, Strands will reveal one of the theme words. These are the words I used to get those hints but any words of four or more letters that you find will work:

MOVE, RAVE, NOVEL, BACK, LACK, HACK, FEAT, HEAT, WING, SORE, ROSE, STAR, RATS

Answers for today’s Strands puzzle

These are the answers that tie into the theme. The goal of the puzzle is to find them all, including the spangram, a theme word that reaches from one side of the puzzle to the other. When you have all of them (I originally thought there were always eight but learned that the number can vary), every letter on the board will be used. Here are the nonspangram answers: