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

A $20K Humanoid Robot to Help Around the House? The Price Isn’t the Only Caveat

The new Neo robot from 1X is designed to do chores. It’ll have to learn a lot from you — and about you.

It stands 5 feet, 6 inches tall, weighs about as much as a golden retriever and costs near the price of a brand-new budget car.

This is Neo, the humanoid robot. It’s billed as a personal assistant you can talk to and eventually rely on to take care of everyday tasks, such as loading the dishwasher and folding laundry.

Neo doesn’t work cheap. It’ll cost you $20,000. And even then, you’ll still have to train this new home bot.

If that sounds enticing, preorders are now open (for a mere $200 down). You’ll be signing up as an early adopter for what Neo’s maker, a California-based company called 1X, is calling a «consumer-ready humanoid.» That’s opposed to other humanoids under development from the likes of Tesla and Figure, which are, for the moment at least, more focused on factory environments.

Neo is a whole order of magnitude different from robot vacuums like those from Roomba, Eufy and Ecovacs, and embodies a long-running sci-fi fantasy of robot maids and butlers doing chores and picking up after us. If this is the future, read on for more of what’s in store.

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What the Neo robot can do around the house

The pitch from 1X is that Neo can do all manner of household chores: fold laundry, run a vacuum, tidy shelves, bring in the groceries. It can open doors, climb stairs and even act as a home entertainment system.

Neo appears to move smoothly, with a soft, almost human-like gait, thanks to 1X’s tendon-driven motor system that gives it gentle motion and impressive strength. The company says it can lift up to 154 pounds and carry 55 pounds, but it is quieter than a refrigerator. It’s covered in soft materials and neutral colors, making it look less intimidating than metallic prototypes from other companies.

The company says Neo has a 4-hour runtime. Its hands are IP68-rated, meaning they’re submersible in water. It can connect via Wi-Fi, Bluetooth and 5G. For conversation, it has a built-in LLM, the same sort of AI technology that powers ChatGPT and Gemini.

The primary way to control the Neo robot will be by speaking to it, just as if it were a person in your home.

Still, Neo’s usefulness today depends heavily on how you define useful. The Wall Street Journal’s Joanna Stern got an up-close look at Neo at 1X’s headquarters and found that, at least for now, it’s largely teleoperated, meaning a human often operates it remotely using a virtual-reality headset and controllers.

«I didn’t see Neo do anything autonomously, although the company did share a video of Neo opening a door on its own,» Stern wrote.

1X CEO Bernt Børnich told her that Neo will do most things autonomously in 2026, though he also acknowledged that the quality «may lag at first.»

What you need to know about Neo and privacy

Part of what early adopters are signing up for is to let Neo learn from their environment so that future versions can operate more independently.

That learning process raises privacy and trust questions. The robot uses a mix of visual, audio and contextual intelligence — meaning it can see, hear and remember interactions with users throughout their homes.

«If you buy this product, it is because you’re OK with that social contract,» Børnich told the Journal. «It’s less about Neo instantly doing your chores and more about you helping Neo learn to do them safely and effectively.»

1X says it’s taking steps to protect your privacy: Neo listens only when it recognizes it’s being addressed, and its cameras will blur out humans. You can restrict Neo from entering or viewing specific areas of your home, and the robot will never be teleoperated without owner approval, the company says.

But inviting an AI-equipped humanoid to observe your home life isn’t a small step.

The first units will ship to customers in the US in 2026. There is a $499 monthly subscription alternative to the $20,000 full-purchase price, though that will be available at an unspecified later date. A broader international rollout is promised for 2027.

Neo’s got a long road ahead of it to live up to the expectations set by Rosie the Robot in The Jetsons way back when. But this is no Hanna-Barbera cartoon. What we’re seeing now is a much more tangible harbinger of change.

Technologies

Today’s NYT Mini Crossword Answers for Saturday, Nov. 1

Here are the answers for The New York Times Mini Crossword for Nov. 1.

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

Need some help with today’s Mini Crossword? It’s the big Saturday version, so it could take some time. Read on for the answers. And if you could use some hints and guidance for daily solving, check out our Mini Crossword tips.

If you’re looking for today’s Wordle, Connections, Connections: Sports Edition and Strands answers, you can visit CNET’s NYT puzzle hints page.

Read more: Tips and Tricks for Solving The New York Times Mini Crossword

Let’s get to those Mini Crossword clues and answers.

Mini across clues and answers

1A clue: Ethically sourced, as some egg
Answer: CAGEFREE

9A clue: Residents of Tehran
Answer: IRANIANS

10A clue: Air sign?
Answer: SKYWRITE

11A clue: ___ Faire (medieval-themed festival, informally)
Answer: REN

12A clue: Athlete from Cleveland or the University of Virginia
Answer: CAVALIER

17A clue: Kind of bathing suit
Answer: ONEPIECE

18A clue: Musical whizzes
Answer: MAESTROS

Mini down clues and answers

1D clue: Certain gender identity
Answer: CIS

2D clue: Holy object sought in the first «Indiana Jones» movie
Answer: ARK

3D clue: ___ pride
Answer: GAY

4D clue: Completely surrounds
Answer: ENWRAPS

5D clue: Like a cozy campsite on a cool autumn night, say
Answer: FIRELIT

6D clue: Washington’s Mount ___, the highest peak in the Cascades
Answer: RAINIER

7D clue: Sinus-treating doctor, for short
Answer: ENT

8D clue: Opposite of WNW
Answer: ESE

12D clue: _ _ _mon URL ending
Answer: COM

13D clue: De Armas who starred in 2025’s «Ballerina»
Answer: ANA

14D clue: Shape of flying geese
Answer: VEE

15D clue: Prefix with friendly
Answer: ECO

16D clue: Restaurant booking, informally
Answer: RES

Technologies

Kim Kardashian Denies the Moon Landing and NASA Corrects Her Publicly

It’s one reality TV actor versus another, as Real World alum and acting NASA administrator Sean Duffy tells Kardashian she’s wrong.

NASA says we’ve been to the moon six times. Kim Kardashian says the first time was faked. On a recent episode of The Kardashians, the reality-show star was chatting with actress Sarah Paulson about astronaut Buzz Aldrin, the second man to walk on the moon. That’s when Kardashian revealed she doesn’t believe the 1969 moon landing is real.

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In an interview, Aldrin was asked about the scariest moment of the Apollo 11 mission. Kardashian quotes his reply, «There was no scary moment because it didn’t happen. It could’ve been scary, but it wasn’t because it didn’t happen.»

It’s unclear which interview this was, or what exactly Aldrin was referring to, although it seems like he’s saying a certain frightening moment didn’t come to pass. But Kardashian took the quote to mean the entire moon landing was a hoax that Aldrin chose to reveal via that one quote.

«So I think (the moon landing) didn’t happen,» she said.

NASA acting administrator (and former participant on reality show The Real World) Sean Duffy took exception to the sentiment, replying on X «Yes, Kim Kardashian, we’ve been to the moon before…6 times!»

Yes, @KimKardashian, we’ve been to the Moon before… 6 times!
And even better: @NASAArtemis is going back under the leadership of @POTUS.
We won the last space race and we will win this one too 🇺🇸🚀
🎥: Hulu pic.twitter.com/CkexEEPFSv

— NASA Acting Administrator Sean Duffy (@SecDuffyNASA) October 30, 2025

The US did in fact land on the moon on July 20, 1969, with Aldrin and fellow astronaut Neil Armstrong both walking on the lunar surface. Armstrong died in 2012. Aldrin is now 95.

In 2002, Aldrin, then 72, punched a conspiracy theorist who tried to get him to swear the moon landings was faked.

«We won the last space race and we will win this one too!» Duffy told Kardashian on X. He later invited her to an upcoming launch at Kennedy Space Center, though she did not immediately accept.

Kardashian did not respond to a request for comment.