Now you may have seen three letters pop up quite a bit as of recently in the art world, N F T. NFT stands for Non Fungible Token, and is essentially a proof of ownership of an asset within a community. Twitter founder Jack Dorsey sold a tweet in March this year for the equivalent of $US2.9 million ($3.7 million), the buyer compared the purchase to buying a Mona Lisa painting.

The Monday Daily show was joined by UNSW information systems lecturer Eric Lim, who discussed NFT’s and the many benefits and challenges they present to digital artists.