Colleen

What are NFTs?

Alice Fulwood, Kevin, Anil Dash, Keshe, Colleen, Quentin Tarantino

Driven by pandemic-era speculation and institutional adoption, the NFT market surged to over $24 billion in 2021, legitimizing digital ownership through major sales by entities like *The Economist* and Sotheby's. While the technology provides immutable proof of provenance for assets ranging from viral tweets to virtual real estate, the sector faces significant criticism regarding intellectual property conflicts, extreme volatility, and environmental costs. Proponents argue this paradigm shift will underpin a broader digital economy by enabling verifiable credentials and tokenized real-world assets, despite current concerns over its sustainability as a purely speculative asset class.