At the BlockDown 2021 conference, EllioTrades, a crypto YouTuber and co-creator of the Superfarm NFT project, joined a debate about the value of nonfungible tokens with Edmund Schuster, associate professor of law at the London School of Economics.
By definition, NFTs are unique pieces of digital content brought and moved online using blockchain tech, the underlying technology of cryptocurrencies like Bitcoin (BTC) and Ether (ETH). As a core feature of NFTs, blockchain ensures digital scarcity and authenticity of digital collectibles, but some experts believe that it is not strictly necessary.