Proof of Provenance: Why NFTs Can Be Valuable

Nyan Cat was recently sold as an NFT by its creator Chris Torres for nearly $600,000. Credit: Chris Torres.

Imagine if the Resolute Desk in the Oval Office was an NFT. The desk was commissioned by Queen Victoria in 1880 as a gift to then U.S president Rutherford B. Hayes. Since then, it has been used by every subsequent U.S. president in the White House. As an NFT, it would have the names of its original owner, Queen Victoria and every U.S. president’s name for the last 140 years etched in the desk permanently…