The Beatles and John Lennon memorabilia to be sold as NFTs

The image is from the same source.John Lennon's oldest son is selling music history from his collection.He will keep the physical items as they will be sold as non-fungible token.The black cape worn by his father in Help! is one of the items being auctioned.Critics have warned about the risks in the market for NFTs.The Afghan coat worn by John Lennon in the film "Magical Mystery Tour" and three guitars given to John Lennon by his father are included in the sale.Each NFT will be offered as an audio-visual collectible with narration by Julian Lennon.The notes hand-written by Paul McCartney for Hey Jude are expected to fetch the most at auction. It has a starting price of $30,000 and is expected to reach more than double that figure.The proceeds from the NFT sale will go to a charity. There will be an online auction on 7 February.NFTs are "one-of-a-kind" assets in the digital world that can be bought and sold like any other piece of property, but with no tangible form of their own.The digital token can be used as a proof of ownership.Due to their rarity, collectible items are seen as valuable, but digital files can be easily duplicated.These items can be tokenised to create a digital certificate of ownership that can be bought and sold.A record of who owns what is stored on a shared ledger known as the blockchain.The ledger is maintained by thousands of computers around the world.The value of the market in digital art and collectables is approaching that of the global art trade, with some NFTs changing hands for tens of millions of dollars.Regulators and critics worry that consumers may not be aware of the risks involved in unregulated investments like NFTs.The caption is media.Will digital-only trading cards replace physical ones?The Beatles.John Lennon.NFTs.