After art and fashion, these digital assets are coming to the very earthly world of champagnes, fine wines and spirits. Fascinating.
What is an NFT? Under a line of code registered and guaranteed by a blockchain, the NFT (non-fungible token), is a unique, non-exchangeable digital asset and an unfalsifiable digital property title.
Is it virtual or is it real? One or the other or both. An NFT can be a virtual asset, such as a digital work. It can be the certificate of ownership and authenticity of that work. It can also be the certificate of a physical asset, such as a bottle of fine wine. Finally, it can be both the asset and the digital work associated with a “tokenised” physical double.