Vox published an article about the recent deal between the financial services company Square and the steaming music service Tidal. They note that a possible outcome of the deal may involve using so-called NFTs (non-fungible tokens) to sell digital collectibles of musicians:
More intriguingly, given Dorsey’s love of All Things Blockchain, and the current mania over NFTs, it won’t be surprising to see Square + Tidal work on their own NFT scheme. NFTs (non-fungible tokens) are blockchain-enabled digital pieces of … anything that investors and speculators and collectors are hoovering up at a crazy rate. Even if none of this makes sense to you, you may have heard about people paying real money — a lot of money — for digital ephemera like cartoon cat GIFs or animated trading cards of NBA players dunking or blocking. It’s a thing, for now.
Read the full article here.