A digital art piece, tweaked using cryptocurrency technology to make it one-of-a-kind, sold at an auction for millions. That transaction made global headlines and buoyed already-mushrooming interest in these kinds of digital objects – known as non-fungible tokens, or NFTs – that have captured the attention of artists and collectors alike. Cross this notion with cryptocurrency technology known as blockchain and you get NFTs. One purpose of NFTs is that they can be used to trace an object’s digital provenance, allowing a select few to prove ownership. The buyer founded Metapurse, described as the world’s largest NFT fund, which is likely to benefit from the heightened attention.

Source: The Star March 21, 2021 17:22 UTC