As a new year is finally upon us, it is incredible to see where technology has taken things over the past 12 months. NFTs (aka non-fungible tokens) have disrupted both the investing and art world, making headlines in 2021 for their groundbreaking utility for both creators and investors alike, and they don’t show any signs of slowing down in 2022. In fact, NFTs just had their best year on record, generating over $23 billion in trading volume—a significant increase from less than $100 million recorded in 2020, according to data from DappRadar. Anyone, who is able to legally prove they created content, is entitled to sell that content as an NFT. From Youtubers to entrepreneurs, the entire artist community can now take advantage of the exciting new marketplace for their digital art. The desirability and market value of NFTs stem from their exclusivity, as their non-fungibility by definition means that NFTs are classified as one-offs. This means that, unlike other cryptocurrencies, NFTs cannot be replaced. Although one Ethereum can replace one Ethereum, nothing will replace an original Monet nor an NFT. Since NFTs exist on the blockchain, they cut out the need for any middlemen. These digital assets have been rapidly adopted as a new form of investment over the last year or so, but their value lies not only in being an exclusive asset to revere—they also provide a way for independent creators to earn an income. One such artistic co...
