Non-Fungible Tokens (NFTs) have been capturing the headlines lately, with artists like pop star Grimes and EDM producer 3LAU raking in millions of dollars from selling their works linked with these crypto tokens. NFTs entered the market in 2017 as part of ‘crypto kitties‘, a blockchain game using digital cat collectables.
However, in October last year, art auction house Christie’s New York made history by selling the first-ever NFT linked with a physical artwork — Portraits of a Mind: Block 21, by London based artist Benjamin Gentilli, sold for over 130,000 US Dollars. The popularity of NFTs has been on a rapid rise since then.
Another record-breaking NFT work, this time purely digital, has also been auctioned at Christie’s at a current bid of an eye-watering 3.25 million dollars. This has led to an increase in the total market capitalization of NFTs to more than 350…
