Updated 20 October 2021
Nonfungible tokens, or NFTs, have taken the world by storm in the last year. Proponents say these digital goods are set to revolutionise the online economy, while skeptics deride them as a barely disguised scam. Regardless of one’s position on the matter, one thing is certain: NFTs are worth a lot of money.
One example is the original source code for the internet, sold in a Sotheby’s auction for $5.4 million USD. In an article for the Wall Street Journal, L’Atelier BNP Paribas analysts contextualised the sale as part of a growing interest in NFTs—the market has increased from $41 million USD in 2018 to at least $338 million USD in 2020.
What’s spurring this eye-popping growth? Is it sustainable? And what other assets might get the NFT treatment next? Read the full article for more insights.
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