The NFT market is growing rapidly, and so are the fraud risks

July 11, 2022

Non-fungible tokens (NFTs) have taken digital markets by storm. These blockchain verified, one-of-a-kind ownership records — which could be tied to works of art, collectibles and other pieces of intellectual property — are finding a host of ready buyers. By one estimate, the NFT market stood at $41 billion at the end of 2021, approaching the size of the conventional art market. Others project it will grow with a compound annual growth rate of 35 percent. The burgeoning NFT market is not without its risks, including the potential for fraud. We’ve interviewed Catarina Kim (Managing Director of Aon’s Cyber Solutions), Dennis Lawrence (Senior Consultant in the Intelligence Group), and Adrienne Reid (Senior Vice President of Aon’s Fine Art Insurance).