You may have heard that the famous auction house Christie’s sold a piece of digital art for $69 million back in March. The world was all a buzz when it happened and talked about the future of  NFTs.

In a recently published Technical.ly Baltimore online article (April 21, 2021) titled “NFTs are going mainstream. A Baltimore artist and technologist explain how they work,” staff writer Donte Kirby interviewed Merrick School of Business Assistant Professor of Entrepreneurship and Innovation, Sanwar Sunny,  to help him frame the article and the uses of non fungible tokens. Prof Sunny explains it very well and includes how the company he founded Dynhamex, used NFTs with his team in 2018, to track solar energy production from individual homes.

EXERPT FROM THE ARTICLE

Sanwar compared the whole thing on a theoretical level to the sale price of the house from the movie Home Alone. It’s built with the same wood as any other house, but it was sold for $1.5 million, while the house of Old Man Marley in the film across the street sold for $3 million.

“It’s significantly higher in price because of that uniqueness, and emotional connection to the history of the house,” said Sanwar.  “People are willing to pay because now [with NFTs] you can verify that it is in fact that item that is in fact that house.”

Check out the full Technical.ly Baltimore article.