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Ron Yu/Fred Chan (1): NFT Risks: The Dangers of the Unknown
Manage episode 361036421 series 3468561
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Non-fungible Tokens (NFTs) have been at the centre of crazed investment with trade hitting $17 billion last year, a 21,000% increase from 2020. While the potential rewards in the NFT marketplace may be tempting, the current risks involving ownership, verification, law and security cannot be overlooked.
Tarid.IO directors Ron Yu and Fred Chan put forth sincere questions on NFTs: Who are the parties involved in transactions? Are the sellers reputable or have they previously been convicted of fraud? What are consumers actually purchasing and what are their rights to a purchase?
What's more, regulatory implications in NFT activities are still undetermined as Ron and Fred explain difficulties for programmers to develop software interactions without understanding its validity of its usage.
HKU FinTech is the leading fintech research and education in Asia. Learn more at www.hkufintech.com.
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