Understand Non-Fungible Tokens (NFTs)
Many people own original works of art, even if the work is a photograph, drawing, or painting that you, a family member, or a friend made. You might have spent $100 on a framed original, or far more. And you know that people spend tens to hundreds of millions of dollars on rare, exceptional works.
The work you and wealthy folks and institutions collect can include things written by hand (like an original manuscript or a marked-up typewritten draft of a poem) or limited-edition lithographic, letterpress, or other print.
Collectible art is typically either a draft (which might be one of many), an edition (one of many, but each having a particular hand in their creation), or a unique originalâone of a kind. ...