NFTs 101

Abstract

Non-fungible tokens (NFTs) and the blockchain are a relatively new technology that is becoming ubiquitous – yet most creators and buyers are saturated with an ever-increasing arsenal of jargon that, in some cases, makes it difficult to fully appreciate what exactly an NFT is and how the blockchain really works and, thus, to comprehend what is being sold and bought and which rights the players are entitled to. This chapter serves two purposes, namely, to introduce the main technical concepts underlying NFTs and the blockchain in layman’s terms, and to set the mise-en-scène for the rest of the chapters of the compilation.