In this chapter, we will introduce the concept of non-fungibility and how NFTs really bring this concept to digital assets. We will explore some of the reasons why NFTs really can push the boundaries of what is possible in a digital world. Then, we will have a glance at the history behind these strange digital assets, and outline some of the landmark projects that paved the way for the innovation we see today.

In this chapter, we will discuss the technologies that underpin NFTs and look into 3 main areas, blockchain, tokens, and smart contracts. We will then see how these technologies facilitate the valuable properties of NFT such as transparency, transferability and of course, uniqueness.

In this chapter, we will look into three of the main early use cases; Art, Gaming and the Metaverse. We will see how art has become one of the primary use cases for NFTs, and outline two of the largest NFT art collections; Bored Ape Yacht Club and CryptoPunks. Then, we will look at CryptoKitties and see how this strange but pioneering application utilises NFTs to create a collectable game around digital pets, and also Axie Infinity, who have built upon the innovations of CryptoKitties to create a more immersive gaming experience with NFTs at the core. Finally, we will look into the Metaverse and see how NFTs are a useful tool to mimic features of the physical world, in new, digital universes.

In this chapter, we will look at three key pillars of the ecosystem: Networks, marketplaces and wallets. We will look into the main players and understand how they combine to create an open ecosystem for creators and market participants. We will then investigate the investments that have been made into the NFT market, looking into the incredible growth in 2021.

In this final chapter, we will look into some of the limitations and challenges of the adoption of NFTs. We will look at technical literacy, network scalability and regulation as well as discuss the number of scams and fraudulent activity that is common in the ecosystem.