In early 2020, Scarcity Labs Inc. (Scarcity Labs) was created as a spinoff from ViewFin Canada Corporation, a financial technology company providing a wide range of blockchain and cryptocurrency services. Scarcity Labs’ chief executive officer (CEO) and chief product officer (CPO) sat in the company’s Toronto office discussing potential opportunities for blockchain applications. In particular, they pondered the possibility of developing a non-fungible token (NFT) platform for artist, where works of art could be turned into NFTs, which people could then buy and sell. The CEO and CPO wondered what Scarcity Labs needed to do to successfully launch such a platform.
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