As projects such as CryptoPunks, Bored Ape Yacht Club, and CryptoPunks have gained attention from the general public, the popularity of nonfungible tokens has increased dramatically over the last year.

Although the prospect of securing a 6-figure payout for the most recent trending piece of digital art has been an important factor in the media attention, it is true that NFT technology’s capabilities are still unknown to the extent that crypto has even scratched the surface.