AMT explores what the world of digital assets means for the jewelry industry
Non-fungible tokens, or NFTs, might be the hottest new way for the meme-stock crowd to chase improbable riches. But it would be a mistake to overlook these creations as playthings for gamers and people who use virtual reality to immerse themselves in the metaverse.
Observers of the burgeoning market for NFTs note how they have swept through the world of art collecting and are beginning to attract the attention of digital pioneers in the fine jewelry industry.
NFTs, Blockchain, and the Promise of Security and Traceability
The term NFT can be most simply defined as a unique digital asset that is created, stored, and authenticated via blockchain technology. Bitcoin would be an example of a fungible token, in that one bitcoin is worth the same as another one, making them interchangeable.