NFT

A non-fungible token (NFT) is essentially a tradeable code attached to metadata about a real-work event, object, or transaction. A secure network of computers records the sale of an NFT on a digital ledger (a blockchain), giving the buyer proof of both authenticity and ownership.

NFTs, compared to crypto coins or tokens, are unique iterations of code that cannot be reproduced. NFTs are being leveraged today in several ways: as an art form, as collectables on exchanges, and as indelible records of memorable events. Since catching the public’s eye in March 2021, NFT marketplaces have attracted over $37 billion of sales in the first four months of 2022.

In the articles reviewed below, the authors discuss the use cases for NFT, in art, fashion, entertainment and health. These contributions detail the factors that have contributed to successful projects, and the challenges that impact the long-term prospects of the market.

Beyond the hype, these experts point out the utility of NFTs in ensuring the coherence and integrity of the high fashion universe, the utility of the technology in protecting the confidentiality and control of personal medical data, and their ability to securely value, purchase and exchange digital art.

This said, the commentators pinpoint the risks that these investments entail, the need for clearer legal and fiscal frameworks, and the internal and external factors that determine the short and long-term prospects of the market.