Crypto pioneer quigley says authenticity tokens needed in retail

Non-fungible tokens, currently powering millions of dollars of sales at art auctions, may end up being a daily necessity within a decade. —AFP

The world’s digital answer to collectibles that has fetched millions of dollars at art auctions this year could well end up being a daily necessity within a decade, according to a cryptocurrency doyen.

Non-fungible tokens, which are digital certificates of authenticity powered by blockchain technology, have the potential to add value for not just artworks but also everyday essentials such as retail goods, according to William Quigley, a co-founder of stablecoin Tether.