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Will NFTs Revolutionize the Art Market or Repeat Its Greatest Failures? These 4 Factors Will Determine Their Fate

If you have even a single toenail touching this mortal coil, you’ve undoubtedly heard about NFTs (non-fungible tokens) and their potential to upend the art world as we know it. But trying to determine whether

 

If you have even a single toenail touching this mortal coil, you’ve undoubtedly heard about NFTs (non-fungible tokens) and their potential to upend the art world as we know it. But trying to determine whether they will, let alone in what ways, demands doing what few buyers plunging into this emerging market want to do: dance with the devil in the details, starting from the foundation. 

It’s helpful to think of NFTs as crypto-collectibles: tradable digital assets (in both the coding and investing senses of “assets”) whose authenticity, identity, ownership history, and sales prices are all tracked on a blockchain. 

Read the full article on ArtNet.

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