KEY POINTS
  • This month cryptocurrency exchange Coinbase and auction house Sotheby's, which has been around since 1744, both announced they'd be launching non-fungible token marketplaces.
  • CNBC spoke to experts in the space about the new technology and what it means for investors and the future of art.

In this article

A concept image for investing in Non Fungible Tokens (NFTs) through Ethereum blockchain.

Kenny Schachter, an art dealer, columnist for Artnet and self-proclaimed nonfungible tokens evangelist, believes that the digital works could eclipse the traditional art market within five years.

This month cryptocurrency exchange Coinbase and the auction house Sotheby's, which has been around since 1744, both announced they'd be launching NFT marketplaces.

In this article