Each Monday in March, we'll be speaking to the folks at Rajah & Tann to take a closer look at NFT's -- what these mysterious "Non-Fungible Tokens" are, what opportunities and pitfalls may befall potential investors and creators, and if there is a role for regulating this fast-changing new world. In Part Three, JP Ong speaks with Rajesh Sreenivasan, Head of Rajah & Tann's Technology, Media, and Telecommunications Practice, and Benjamin Cheong, a Partner at Rajah & Tann, where they expound on the idea of NFT's and the smart contract, and also tackle why authorities in the UK made their first seizure of NFT's, and the curious case of the NBA player who started, then scrapped, a planned NFT project after its value rose significantly.