For years now, we in the luxury sector (as well as those of us who still, oh, I don’t know, read actual news produced by reputable publications) have been hearing buzzwords such as “blockchain,” “bitcoin,” “cryptocurrency” and, more recently, “non-fungible tokens,” otherwise known as “NFTs.” Some of us, admittedly, scoffed at the idea of digital objects, tweets, 3D animations and digital music tracks being bought and sold for ridiculous amounts via some form of seemingly imaginary currency existing in the ether that sounded mushroom-related and was tracked through apps on our phones. (Are they even still considered “phones” anymore? Do you speak on them? I sure as hell don’t.) But Gen-Xers and, yes, even millennials need to get on board and realize that the Cryptoverse is here to stay in the same way our generation told the boomers before us that the Internet was not going anywhere.
According to a CNBC article in October 2021, NFT trading volume surged in the third quarter of 2021 to $10.67 billion; that’s a 704 percent increase from the previous quarter. For those unsure of the power of the Cryptoverse, you need to understand something, and you need to get it in your thick skull pretty quickly —
