It's a new type of digital asset - known as a non-fungible token (NFT) - that has exploded in popularity during the pandemic as enthusiasts and investors scramble to spend enormous sums of money on items that only exist online. Blockchain technology allows the items to be publicly authenticated as one-of-a-kind, unlike traditional online objects which can be endlessly reproduced.
source https://zeenews.india.com/technology/a-10-second-video-clip-bought-for-67k-has-sold-for-6-6-million-heres-the-story-behind-it-2345177.html
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