technology

While their advent was initially hailed as a revolution for the creative industries, non-fungible tokens (“NFTs”) appear to have lost significant steam over the past months with the Wall Street Journal reporting that NFT sales have dropped by 92% over September 2021 figures. But, what, exactly are NFTs? Are they eligible for protection under intellectual property laws? Or are they merely the foremost Veblen good of the crypto era? NFT is an acronym for “non-fungible token” and within the realm of blockchain technology it refers to a unique digital identifier composed of a string of characters (“hash”) which is created…