A question of ownership
Non-fungible tokens (NFT) are unique, encrypted digital tokens that can be used to certify ownership of an artwork, for example. There can be only one owner of an NFT, and this represents one way in which artists and collectors can move their interaction into the digital space.
I don't fully understand how it works, but I can kinda understand how it could apply to exclusively-digital works. The NFT is the work, and the certificate of ownership, in one encrypted package. I think.
John Lennon's son, Julian, is now auctioning items from his collection of his father's and The Beatle's memorabilia as NFT. But this is where my comprehension fails me:
However, he will keep the physical items as each piece of memorabilia will be sold as a non-fungible token (NFT). [snip] Each NFT will be offered as an audio-visual collectible, with narration by Julian Lennon alongside imagery of the item.
Huh? (confused)
The droid doesn't go so far as to explain the value of owning an NFT digital certificate of ownership
for a physical object, when someone else has the actual thing. I guess some people just can't help being fleeced.