Analysis

How Non-Fungible Tokens And Blockchain Are Changing The Art And Music Worlds

Harry Khachatrian
How Non-Fungible Tokens And Blockchain Are Changing The Art And Music Worlds
Via Getty

Over the last decade, cryptocurrencies, fronted by Bitcoin, have fundamentally altered preconceived notions of how commerce can be conducted. Untethering wallets from the whims of regulators, corporate banking institutions, and governments, cryptocurrencies have delivered an entirely new medium through which people can buy and sell goods and services.

Blockchain, the same technology that has allowed cryptocurrencies to take the financial world by storm, has now made its way into a new market: art. In the form of Non-Fungible Tokens (NFTs), blockchain allows artists to sign their digital works with unique identifiers, safeguarding their originality. 

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