Non-Fungible Tokens (NFT): business models, legal aspects, and market valuation

An NFT is a unit of data stored on a digital ledger, called a blockchain, which can be sold and traded. The NFT can be associated with a particular digital or physical asset (such as a file or a physical object) and a license to use the asset for a specified purpose. An analysis of the business model and the legal aspects is propaedeutic to the market valuation. To the extent that NFTs can remove intermediaries, simplify and validate transactions, and create new markets, they can be used for several valuation purposes, according to the stakeholder involved (creator/artist; consumer, etc.).