Nota Bene Episode 125: What are Non-Fungible Tokens (NFTs) and Are They Here to Stay?
Overview
When the artist Beeple sold a digital work of art for $69 million, it caught the world’s attention especially because that one-of-a-kind digital art was a non-fungible token (NFT). In this episode, we’re taking a look at this emerging blockchain technology and exploring how NFTs are transforming digital artwork.
What We Discussed in This Episode:
- What are non-fungible tokens?
- What makes a token “non-fungible”?
- Given the ease of duplication, what makes NFT’s so valuable?
- How might the use of NFT’s benefit performance artists?
- Will NFT’s ever become simple enough for everyday people to utilize them?
- After someone creates an NFT, where are some of the online marketplaces they can list and market it on?
- Are private investors moving into this space?
- How can NFTs be used with physical objects?
- What are the legal implications of creating and/or buying NFTs?