NFTs, or non-fungible tokens, have gained popularity primarily within the art world so far, but experts say it’s just the beginning in terms of where the space could be headed.
Related podcasts: EP. 21: Pushing Boundaries: Are NFTs the Next Frontier for the Fine Art Market? and EP. 22: How NFTs Can ‘Break the Fourth Wall’ Between Digital and Physical Assets
“The art world has seen a transformation in the NFT space,” said Honor Palmer-Tomkinson, an account handler on the fine art and species team at specialty insurance broker Howden Group, in an interview with The Insuring Cyber Podcast last year. “I honestly think it’s just the tip of the iceberg. I think the potential for NFTs stretches far beyond what there is right now.”