202214 Jan

Stocks and property will be turned into NFTs, venture capitalist says


Company stocks and real estate will be among the many things that get turned into non-fungible tokens in the future, according to venture capitalist Bill Tai. Instead, it is simply a matter of when it will happen at scale, Tai said at the Crypto Finance Conference in St. Moritz, Switzerland. Theyre designed to show that someone has ownership of a unique virtual item, such as online pictures and videos or even sports trading cards. In March, South Carolina-based graphic designer Beeple, whose real name is Mike Winkelmann, sold an NFT for a record $69 million at a Christies auction. Data from market tracker DappRadar published Tuesday shows total NFT sales hit $25 billion in 2021 as the speculative crypto-asset boomed in popularity.

Source: Cnbc