Could NFTs go beyond the art world into everyday life? ‘There’s literally no limit,’ experts say

Source | The Globe and Mail

The first time most Canadians heard the term “nonfungible tokens” was likely after a recent blockbuster Christies auction for a piece of digital art. However, experts expect the technology to move far beyond the art world into everyday life – though nobody knows for sure how they will be used.

NFTs – which are essentially a tool that uses blockchain technology to provide proof of ownership of a digital asset such as an image, audio clip or a tweet – are currently a fringe item used primarily by tech enthusiasts and artists, but experts say potential uses for the tokens are nearly limitless, including the proof of ownership of assets like cars or real estate, or just about anything of value.

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