NFTs and Cryptocurrencies

Both nonfungible tokens (NFTs) and cryptocurrencies are relatively new forms of digital assets that are built on the blockchain, and both have been heralded for their potential to change concepts of ownership and finance respectively. However, there are also many concerns about the legitimacy and security of NFTs and cryptocurrencies. Because NFTs and cryptocurrencies exist exclusively in the digital space, some argue that they have no real value and are particularly vulnerable to scams. Some also express concerns about their lack of regulation and potential role in crimes like money laundering. However, proponents of these digital assets assert that they create more democratic methods of investment, since anyone can buy NFTs and cryptocurrencies, and they are not controlled by a central authority. This volume explains this complex topic and offers various viewpoints on the benefits and disadvantages of these assets.