NFTs explained: Rory Carter speaks to The Times

Contentious Trusts and Estates Associate, Rory Carter, has been quoted in The Times by its Chief Art Critic, Laura Freeman, in an article entitled ‘NFTs explained – and why people really buy them’.

An NFT is a non-fungible token that can be used to represent ownership of unique items. In the article, in the context of Art, Rory describes it as “a line of code pointing towards an image. It’s a bit like the title deeds to a house. If you’re going to court to prove ownership of a house, you don’t show the judge round your home, you show them the deeds.”

The piece goes on to investigate the attraction of NFTs and their innovative nature, in which Rory explains that “People are now starting to apply the technology to more artistic endeavours.”

You can read the full article here, behind the paywall.