FinTech Alliance company Curve is auctioning off digital art through NFTs (Non Fungible Tokens).
In Brief:
An NFT is a digital unit held on blockchain technology, but one that can’t be exchanged the same way currencies can.
Five pieces of Curve branded artwork will be auctioned as NFTs.
People from across the globe can bid on them.
What does this mean?
The artwork is being auctioned to support the theatre community in London which has been impacted by lockdowns for a year – proceeds will go to the Theatre Support Fund+.
NFTs are becoming an increasingly popular way of selling things like artwork. In this context they act as a certificate of ownership for a certain piece, but the NFT owner doesn’t physically hold the asset.
