If you download music from iTunes, or subscribe to Spotify, you license the music for as long as your subscription fee is current and Apple remains in business. With a NFT, you could, theoretically, buy the rights to an album or song. This article could be an NFT, even. In the simplest terms, a NFT gives the holder ownership of a digital file that can be (and will be, rest assured) endlessly copied. Print out that Beeple pic and hang it on your wall if you like it so much, you will not get in trouble.
Originally published at https://www.nydailynews.com/news/national/ny-what-are-nft-non-fungible-tokens-explain-20210316-l4lt2yc5pvcbvefxgnxoghb5q4-story.html#ed=rss_www.nydailynews.com/arcio/rss/category/news/ on .