Bloomberg Law
Aug. 10, 2022, 9:00 AM

Understanding NFTs: A Bored Ape Explainer

Victoria Vergolina

At the height of NFT mania, everyone from athletes like Tom Brady to celebs like Justin Beiber seemed to be buying (or talking about) collections like Bored Ape Yacht Club. Nonfungible tokens aren’t just pictures of monkeys, though — they exist on the blockchain, and buying or selling them typically requires paying in some kind of cryptocurrency, often Ether. While the link between NFT prices and the those of tokens such as Ether or Solana is not always straightforward, it’s ...

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