Despite being an extremely high-risk and volatile market as shown by the recent FTX exchange bankruptcy, many businesses, particularly those with popular or strong brands, are continuing to develop and sell non-fungible tokens (NFTs).
For those unfamiliar with the concept, NFTs are essentially digital tokens with an underlying digital asset which can be acquired. For example, businesses are selling NFTs which provide the owner with access or rights over digital artwork, or NFTs which allow gamers to use the brands within a gaming environment. NFTs can also be traded and many will see these as an investment with the hope the digital asset will appreciate in value. In short, the nature of NFTs is very diverse, and many large corporates are entering the market which has grown significantly over the past few years.
Source RSM
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