If there was ever an award for the most annoying acronym, NFTs would have to be amongst the top three. Its expanded version, Non-Fungible Tokens is almost as obscure as the acronym itself, and despite the many blogposts, videos, and podcasts aiming to demystify the term, confusion still abounds. The term made its incursion into the mainstream a couple of years ago and for those who have made it past the annoyance of “yet another acronym” the term still only elicits some vague notion of digital art and the extravagant capriciousness of the ultra rich.
In todays episode our Assistant Producer Ira Bulai lays out a primer on NFTs, what are they, what they are useful for and how they maybe…just maybe, could become the building blocks of an entire new breed of financial services that trade on desirability, scarcity and perceived demand.