TOBY SHAPSHAK: Art prospers amid blockchain boom
The latest tech and investing craze is good news for artists, however odd the idea of owning easily replicated digi-art
18 March 2021 - 05:00
If you haven’t already heard about them, nonfungible tokens (NFTs) are the hottest thing since, well, Clubhouse. The audio-only app, which eschews recordings for live-only conversations, is perhaps a fitting comparison for NFTs, and equally ethereal.
An NFT is the closest we’ve come so far to creating digital ownership of something digital. A token is named for something on a blockchain, and as the name implies, it represents something — in this case, a digital piece of art or music. Fungible means something that can be exchanged for something else of the same kind...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.