The Power of NFTs: How non-fungible tokens could change the world

NFTs are tokenized versions of assets that can be traded on the blockchain, the digital ledger technology behind cryptocurrencies like Bitcoin and Ethereum. Whereas one bitcoin is directly interchangeable with another, meaning they are 'fungible', NFTs are the opposite because the underlying assets are unique and can’t be exchanged like for like. This makes them non-fungible. This uniqueness enabled Christie’s to sell Beeple’s well-known NFT in March for over $68 million. It raises the question: Where is this all going and how could NFTs change the world?