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NFTs were the digital finance phenomenon of 2021. But can they keep up momentum after the hype has crashed?
The Everything Token takes a whistle-stop tour through the landscape of NFT technology – what they are, how they work and the potential for digital assets.
NFTs haven’t been short of controversy in the past two years as the valuations of digital artworks such as the infamous ‘Bored Apes Yacht Club’ and others reached feverish levels before crashing back down to earth.
Kominers himself is a professor and economist at Harvard Business School in the USA, but the book is written in an accessible way that us normies can still grapple.
Kaczynski and Kominer’s book take an unapologetically positive spin on NFTs. When it comes to any sort of investing, Mouthy Money thinks its readers should view everything through a critical lens – but if you want to understand how the tech works, this book should do the job.
Mouthy Money is giving away three copies of The Everything Token by Steve Kaczynski and Scott Duke Kominers to help you get your head around ‘non-fungible tokens’ or NFTs.
What are NFTs?
Non-fungible tokens or NFTs are a form of digital token that confers ownership of an asset and confirms it digitally using a blockchain to record said ownership.
NFTs gained widespread attention during an investment bubble of 2021 before crashing back to earth in the past two years.
Beyond digital artwork that saw much of the hype, Kaczynski and Kominers see much potential for the technology to be used as a marketing tool – fans of products of major global brands will buy digital collectibles in order to show off their digital association with those brands, for example.
Elsewhere NFT technology could replace essential ownership documents for assets that aren’t easily transactable such as property, jewellery, watches, real-world artwork (think Van Gogh or Picasso) or basically anything else that might need a proof of ownership.
To be in with the chance to win one of three copies of The Everything Token, enter the competition here
NFT ownership, trading and purchase carries high risk. You can lose all your money just like with any other kind of investment. Make informed choices and don’t use money you can’t afford to lose.