Illustration by Ryan Inzana
Tim Kang, a 28-year-old software engineer from Los Angeles, became wealthy by investing early in the cryptocurrency Ethereum. But he sees more potential in blockchain, the digital-ledger technology that enables the existence of cryptocurrencies. âIâve been waiting so long,â he says, âfor something that communicates to the world that itâs about more than just cryptocurrency.â
Kang found that something in NFTs, the non-fungible tokens that use blockchain as authentication and have become digital collectibles as well as a booming new business for musicians. And heâs putting his digital money where his mouth is: So far, Kang estimates that he has spent about $2 million on art and music NFTs, which he does not intend to sell. His collection includes one of the 33 NFTs that mark the third anniversary of electronic musician 3LAUâs