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So you bought an NFT? Doesn’t mean you also own it


NFT’s or non-fungible tokens first captured the public imagination when a digital collage by an artist named Beeple sold for US$69 million (£51 million) at Christie’s in March 2021. Since then, there has been an explosion in the use of these units for storing digital content, which are bought and sold using online ledgers known a blockchains. Since that initial connection with art, we are seeing NFT’s being used in numerous other ways. Notably, many are being traded as collectibles on exchanges like OpenSea and Rarible. Lately, for example, a series of 8,888 adorable “Pudgy Penguins” made a splash, each…

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