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Nyan Cat, a video of LeBron James dunking, and a tweet by Jack Dorsey. These all have one thing in common (and no, it’s not because they were sold in recent months for millions of dollars, contrary to what you may have heard).
What actually happened was the unique digital signatures of these three pieces of media were sold-off to a new breed of 21st-century collectors; bringing massive attention to these Non-Fungible Tokens (or NFTs).
Overwhelmingly, the astronomical prices some NFT sales have fetched have attracted ridicule by outside observers. Perhaps understandably so, considering some are spending Lamborghini money on a Nyan Pop-Tart cat GIF that you anyone watch for free online.
But is it really all that ridiculous?
In this video, we’ll explore the potential NFTs hold and why these laughable prices may not be so absurd after all.
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🖼 The Economics Of The Art Market: Why This Painting Isn’t Worth $450 Million
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