As “tokenization” becomes increasingly prevalent, the market for non-fungible tokens (NFTs) has grown significantly, as almost any asset can now be a digital representation issued on a blockchain. So it was fitting that CEO and Co-founder of Sarson Funds, John Sarson, recently won at auction an NFT of Barron’s first magazine cover, originally published over 100 years ago.
The auction represents yet another use case for NFTsthat can be programmed to capture creator royalties and trade globally on secondary markets. They are also easily verifiable on the blockchain as they revolutionize how we interact with real-world assets, virtual worlds, and even govern.
“We are excited to have won the NFT of Barron’s first cover not only because Barron’s is one of the premiere financial news magazines, but also because the auction represents a prime use case for collectors of historic items and traditional art. By being a part of this auction, we showed everyday purchasers, investors, and financial advisors that blockchain technology has profound benefits in many industries including those that may not be as obvious,” said John Sarson, CEO and Co-founder of Sarson Funds.
Sarson Funds believes the greatest benefit offered by NFTs is accessibility. Tokenization reduces financial friction by making assets easy to divide and re-trade, eliminating a costly barrier to entry for investors.
With tokenized digital art from creators like Beeple selling for millions, and big brands like Nike, Louis Vuitton, and more racing to develop tokenized solutions for their brand and products, the market demand for customizable token solutions stands to increase. To meet that demand, Sarson Funds believes that rapid no-code tokenization platforms like TokenMaker stand to benefit from this emergent trend in enterprise blockchain applications.
“NFTs have redefined digital asset ownership by creating a lucrative new method for artists and creators to modernize their work. Customers are also attracted to the uniqueness and indivisibility of digital assets that are contributing to this trend. The token economy is here to stay,” added Sarson.