If you’ve had anything to do with digital arts, digital assets, or both, in the last few months, it has been virtually impossible to escape the barrage of news about how nonfungible tokens, or NFTs, are changing the game for creative industries. From Kings of Leon dropping their new album as an NFT to digital artist Beeple closing a Christie’s auction with an eye-popping price tag on a piece of his work, the trend has been unfolding at a staggering pace.
Many believe that NFTs are not merely a flashy new medium for artistic work but a vehicle that can generate new efficiencies and redefine relationships between creators, their audiences, and traditional executives and of the music and arts industries.
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