One of the more notable technological developments of the past two years has been the rise of the nonfungible token (NFT), the latest in the world of cryptocurrencies and distributed ledgers. This breakthrough technology has taken the art and tech worlds by storm.
Twitter CEO Jack Dorsey, for example, sold an NFT of his first tweet for the equivalent of $2.5 million. The NBA sells “unique” NFTs of basketball moments, called NBA Top Shots, the value of which has exploded. And the popular band Kings of Leon recently released their new album, “When You See Yourself,” as an NFT—becoming the first band to do so.