Nonfungible tokens appear to be an idea whose time has come. Originally developed for use with collectible trading-card games, NFTs can represent almost any unique asset. Outside of the gamer context, the first NFT to gain widespread popularity was probably CryptoKitties, which were released back in 2017.
Related: CryptoKitties’ Dieter Shirley on breaking Ethereum and NFTs
Carol Goforth is a Clayton N. Little professor of law at the University of Arkansas (Fayetteville) School of Law.