Non-fungible tokens NFT
As NFTs become more sophisticated and integrate into the financial infrastructure, it may become possible to implement the same concept of tokenized pieces of land in the physical world. The price paid for specific NFTs and the sales volume of a particular NFT author may be artificially inflated by wash trading, which is prevalent due to a lack of government regulation on NFTs. NFT trading is an unregulated market in which there is no legal recourse for such abuses. It has become well known that an NFT image can be copied or saved from a web browser by using a right click menu to download the referenced image. The ERC-1155 standard takes the concept further by reducing the transaction and storage costs required for NFTs and batching multiple types of non-fungible tokens into a single contract. This criticism was promoted by Australian programmer Geoffrey Huntley who created "The NFT Bay", modeled after The Pirate Bay. The NFT Bay advertised a torrent file purported to cont