A professional art appraiser explains why valuing an NFT is ‘totally different’ than judging a painting

Quick Take

  • The Block spoke with Caroline Taylor, one of a nascent crop of appraisers looking at the NFT space.

Few trends in crypto have caught on as quickly as non-fungible tokens, or NFTs, which exploded in popularity last year as a way to encode unique items such as artworks or sports memorabilia onto a blockchain.

With collectors estimated to have spent more than $40 billion on NFTs in 2021 — five times more than they paid for fine art at auction — it’s little wonder that the traditional art world is sitt