The realm of art is perpetually evolving. With the advent of digital technology, art has transcended into the ether, breaking free from traditional canvases and venturing into the uncharted territory of pixels and binary code. Welcome to the new age of art trade, governed by digital art and non-fungible tokens (NFTs).

Digital art – a product of artistic intent channelled through software and hardware – has given birth to a whole new art market characterised by its inherent inclusivity and accessibility. The landscape is no longer reserved exclusively for the elite – artists from all corners of the world can create, display, and sell their artwork online.

Enter NFTs, the latest buzzword in both the creative and financial worlds. An NFT, or non-fungible token, is a type of cryptocurrency token on a blockchain that is unique and can't be replaced with something else. Essentially, NFTs are 'digital certificates of authenticity' that validate the ownership and originality of a digital asset.

In March 2021, a digital artwork titled 'Everydays – The First 5,000 Days' by Beeple became the first NFT-based artwork to be auctioned at Christie's, an esteemed auction house. It sold for a stunning $69.3 million, permanently etching the potential of digital art and NFTs in the annals of art history.

Yet, like every exciting new frontier, the world of digital art and NFTs is not without its challenges. Concerns about energy use, copyright infringement, and market volatility raise legitimate questions about the sustainability of this burgeoning market. Nevertheless, whether it is a bubble or the start of a revolution, the impact of digital art and NFTs on the art trade is undeniable, taking the potential for creativity and financial return to unprecedented heights.