Nonfungible tokens, or NFTs, have recently been the subject of an enormous amount of hype.
For the uninitiated, NFTs are tokenized versions of assets that owners receive virtual certificates of sole ownership for, which are tracked and traded on a blockchain. In essence, NFTs are speculative financial assets that can be attached to a multitude of virtual goods, such as memes, GIFs, songs and more.
One driver for the recent boom of NFTs could be the Covid-19 pandemic, which has potentially resulted in a greater need for vehicles of self-expression through digital channels. NFTs are not entirely new (the technology started in 2015), but their value and popularity have recently exploded. Many brands have capitalized on the frenzy by offering their own NFTs, including Pizza Hut, Taco Bell, and even…