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Fintech

NFT gold rush sees platforms boom as Jay-Z, Mark Cuban pile in

Marketplaces are battling to find new ways to edge out the competition in the nascent NFT market

Christie's recently sold an NFT series by CryptoPunks for $16.9m
Christie's recently sold an NFT series by CryptoPunks for $16.9m Photo: Christie's

As non-fungible tokens, or NFTs, burst into the mainstream, so too have the marketplaces that host their sales. The race is heating up to find a new advantage in competing for market share.

NFTs are one-of-a-kind digital collectibles that are authenticated using blockchain technology and typically purchased using cryptocurrencies, with ether the most popular choice. Products on sale have ranged from digital paintings and artworks, to the latest Kings of Leon album and sports merchandise.

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