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NFT sales hit 12-month low after cryptocurrency crash

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theguardian.com

Non-fungible tokens have been swept up in the cryptocurrency crash as sales reached a 12-month low in June.NFTs confer ownership of a unique digital item – often a piece of virtual art – upon someone, even if that item can be easily copied.

Ownership is recorded on a digital, decentralised ledger known as a blockchain.Sales of NFTs totalled just over $1bn (£830m) in June, according to the crypto research firm Chainalysis, their worst performance since the same month last year when sales were $648m.

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