A nonfungible token (NFT) is a unique digital code that represents a digital item such as art or music, as well as a growing number of physical items, that runs on the blockchain (a secure, decentralized, and cryptography-backed online ledger) and provides proof of ownership of virtual collectibles. That explanation may confuse, and when it comes to NFTs, confusion, and excitement are present in equal parts.
NFTs can generate new revenue streams for creators and be a store of value for collectors. If you own NFTs or plan to invest in them, you should update your estate plan accordingly. Handing down an NFT is more complicated than passing on a physical item or another traditional asset. But with buzz building around NFTs, they could be among the most valuable things in your estate. READ MORE