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NFT price crash stirs debate on whether stimulus-led fad is over

Apr 4, 2021 Prices for digital collectibles like art and sports memorabilia are sliding, turning the focus back on whether the nascent market for so-called non-fungible tokens is any more than a fleeting mania. Average prices for NFTs essentially tradable digital certificates that use blockchain technology to prove ownership and provenance of online assets have tumbled almost 70% from a peak in February to about $1,400, according to Nonfungible.com, which tracks a variety of NFT marketplaces. A burst of interest in NFTs hit a peak last month when a digital artwork by Beeple sold for a staggering $69.3 million. For some, that sum showed NFTs were in the grip of investor excess in a world full of stimulus, and destined to fizzle. Others who study the technology argue the use of blockchain to create scarcity for digital collectibles is a lasting innovation rather than a price fad.

Inside BitClout, the Dystopian Social Network with Big Backers and Vocal Critics

Inside BitClout, the Dystopian Social Network with Big Backers and Vocal Critics
decrypt.co - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from decrypt.co Daily Mail and Mail on Sunday newspapers.

Christie s Beeple NFT auction: All your questions about the $69 million sale, answered

Christie s Beeple NFT auction: All your questions about the $69 million sale, answered
slate.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from slate.com Daily Mail and Mail on Sunday newspapers.

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