If you’ve been around the tech space, you’ve probably heard about NFTs or non-fungible tokens. These unique assets, which live on the blockchain, made headlines in early 2021. In March, artist Beeple sold an NFT of one of his digital artworks for US$69 million via auction house Christie’s.  CryptoPunks, pixelated avatars that were some of the earliest NFTs, have fetched some pretty high prices as well.

While the initial hype has cooled off to an extent, NFTs are still attracting a good amount of attention. Blockchain game Axie Infinity, which has taken off in the Philippines, runs on NFTs, and plenty of other businesses, creators, and pop culture figures have begun dipping their toes into the space.

This has led to a number of questions. What exactly is the point of an NFT? What other applications could they have beyond art and gaming? And are they just another craze that’s on the way out or are they here to stay?

In this episode of Tech in Asia Explains, Zach Burks, the founder of NFT marketplace Mintable; Clara Peh, art writer and researcher; and Ryan Kim, partner at blockchain-focused investment firm Hashed help us navigate the wacky world of NFTs. Together, they dive into the origins of these digital assets, their uses, and how they could become a part of our everyday lives.

Tech in Asia Explains is a Tech in Asia Originals series that dives into the latest trends in the tech and startup scene, getting insights from leading personalities from within the industry.