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In 2021, Non-Fungible Tokens (“NFTs”) have taken the world of digital art to new heights. Artists are beginning to “tokenize” their art and sell them in NFT marketplaces for highly lucrative prices where bids can be made only with cryptocurrency. The “hype” surrounding NFTs grows by the day, thousands of new NFTs are being “minted” everyday. Even celebrities are getting involved in this digital movement. It seems however, that we have seen only the infancy of the blockchain based technology and that it may soon venture off beyond the world of digital art. For those in the legal profession, it begs the question, what are NFTs really? And how do we regulate them?