Τhe thrill of NFTs: The trendy hybrid assets and their legal implications
Article by Panayiotis Antoniades* Introduction: The thrill of NFTs NFTs (Non-fungible tokens) have recently burst into an astonishing online hype. The marketplace of these assets encompasses eager capital holders that are willing to spend great amounts for the purchase of assets, yet in a profoundly unorthodox way. NFTs have revolutionized the way assets are perceived, transformed the media and collectible art industries, and justifiably caused a lot of doubtful conversations regarding their future. From the notorious JPG file of Beeple’s collage, Everydays: The First 5000 Days, sold for $69 million, to Twitter’s co-founder and CEO Jack Dorsey’s first-ever tweet "just setting up my twttr" that auctioned for a charitable cause for $2.9 million. NFT and Blockchain Technology NFTs are digital certifications of ownership of a unique digital asset. The code of the NFT is encrypted on a blockchain, a shared database, which records transactions on a digital decentralized led