Assessing NFT Insurance Coverage Options And Gaps – Law360 | NFTRADIUS

By Brian Scarbrough and Edward Crouse (April 29, 2022, 3:27 PM EDT) — Non-fungible tokens are digital tokens using blockchain technology, for which each token or series of tokens can incorporate unique characteristics. Whereas certain cryptocurrencies are fungible and each token in that cryptocurrency is interchangeable — like conventional currencies — NFTs are not.

NFTs function through smart contracts, which are blockchain applications typically deployed on one of several public blockchains to handle the control and transferability elements of the tokens. Anyone can view those public blockchain records — essentially a public database — to verify the control of each NFT and, frequently, to see where to locate items or the digital file associated…

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