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Non-Fungible Tokens (NFTs)

Andrew Parish explains how non-fungible tokens (NFTs) are an innovative use of blockchain to authenticate art, music, sports memorabilia, and more

Andrew Parish, Co-Founder and President of NFT Glee, defines Non-Fungible Tokens (NFTs). This approach to authenticating art, music, sports memorabilia, and much more is built on the back of blockchain technology. Bitcoin is fungible, in that you can replace one Bitcoin by another equally. Non-Fungible Tokens, on the other hand, are unique and cannot be replaced.

Discussion: Andrew mentions that NFTs are an emerging part of the current cryptocurrency “revolution” and in several years they too will become mainstream. What are your reactions to that? Would you collect digital art in this manner? How do you think this will change the ways in which society subscribes value to art?

Optional: To understand how NFTs can transform an industry from within, listen to a podcast on how NFTs can benefit independent musicians (14:33).

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