NFT buyers are not usually acquiring copyrights, trademarks or the sole ownership of whatever they purchase. Nyan Cat, an animated flying cat with a Pop-Tart torso that leaves a rainbow trail, sold for roughly $580,000 in February. During an NFT sale, computers are connected to a cryptocurrency network. There were 11 active bidders in the battle for the NFT that was driven mainly between two bidders named 3fmusic and mememaster. A person with the same name also bought the “Disaster Girl” meme NFT.

Source: New York Times May 24, 2021 22:24 UTC