By now, everyone will have heard of the new(ish) kid on the crypto block: non-fungible tokens (NFTs). But how well do you understand what they are, and more importantly, what their attraction is for buyers?

My fantastic colleague, Rory Carter, gave his insights on the topic to Laura Freeman at the Times. The article explains the basics of NFTs, which are a digital representation of ownership of an asset. Rory describes them as "a line of code pointing towards an image". It goes on to explain the unique attraction of NFT ownership and the potential that the NFT art market has in the future. 

For most art investors, NFTs may still be seen as too much of an unknown quantity, but curiosity has certainly piqued. On the legal front, this creates interesting challenges and raises an argument for reform in the area...