In recent times, non-fungible tokens (NFTs) have gained tremendous popularity worldwide. From sports stars to singers, actors and brands, everyone has jumped on the NFT wagon, and the excitement around the asset class is palpable. Sectors like art, virtual real estate, sports, cinema and gaming have seen the most action and people have invested and traded in NFTs to the tune of billions of dollars. NFTs have grown to become a $41 billion-market in 2021. The market is set to expand to $80 billion by 2025. The fact that NFTs run on a blockchain network and cannot be exchanged makes them unique and valuable as an asset.