NFTs, or Non-Fungible Tokens, are the hottest thing to hit the art world since the advent of photography. There were over 11 million NFT sales in 2021, and 2022 is shaping up to be even hotter, with over two million sales in January alone.
However, these sales numbers don’t tell the whole story. NFTs pose unique challenges, including questionable copyright laws, and moral implications. Although many artists have embraced the new technology, others have legitimate doubts.
“Minting, selling, and re-selling a single NFT has a stupid big carbon footprint. There are always promises from crypto types that they’re going to make this process less wasteful, but it’s not happening very quickly.”