Non-fungible tokens have the potential to be a new medium for artists to explore and monetize their work, just as art forms have shifted and changed throughout history, according to a Toronto-based curator.
NFTs are a type of digital asset and are typically used to buy and sell virtual artwork using cryptocurrency. Each NFT has a uniquely identifiable token, and its ownership can be traced through a ledger known as the blockchain.
Art from the Bored Ape Yacht Club collection, which features 10,000 unique NFTs, has sold for hundreds of thousands of dollars.
Claudia Lala, curator and founder of LALAContemporary — a Toronto gallery
