Non-fungible tokens (NFTs) are created by utilizing distributed ledger technology such as blockchain, and once recorded on the distributed ledger, establish unique, immutable, transparent, and transferable records to represent a set of rights, such as works of art, music, real estate, and other collectibles. This presentation will describe the recent developments of NFTs and provide a general legal overview of NFTs, with a focus of tokenization and real estate. Tokenization in the real estate sector is the process of creating partial, or “fractionalized,” unique digital ownership interests in real estate assets using blockchain-based technology that, once adopted for a particular investment or transaction, confers greater efficiency, security and liquidity for the counterparties while enhancing deal speed. This presentation will discuss such real estate tokenization process and implications, and the associated legal issues. Lin Pang of DLA Piper leads a discussion of this new type of currency(ies) and what it means for real estate.