Cryptocurrency, NFTs, Collectibles, and IP – NBA and the Arts Cross-over Into New Territory
In today’s age, blockchain, cryptocurrencies, and non-fungible tokens (NFTs) are sweeping the headlines and making buzz in the press. From art galleries, to musicians (Kings of Leon, Mike Shinoda), to athletics, investors and businesspersons alike are taking advantage of the juxtaposition of cryptocurrencies and their respective industries. It will be fascinating to see how this convergence between collectibles and cryptocurrencies develops. NFTs are essentially digital collectibles – they can represent things (like a tweet, or an asset) or they can be things (like art, or a highlight). The value proposition here is that these NFTs are unique in the digital sense.