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At its core, the value of a non-fungible token (NFT) today rests in how it is perceived by others. But an NFT's value over time remains to be seen. ....
Screenshot of the Recent Sales page on OpenSea. A common refrain, amid the ongoing market frenzy surrounding sales of art-related NFTs or non-fungible tokens, has been that they are empowering artists otherwise shut out of the system. Many are jumping in. Following Christie’s record sale of E verydays The First 5000 Days, a $69 million NFT by the artist known as Beeple, the response from top artists was enthusiastic. The media is full of stories focusing on overnight successes, like Brooklyn sports painter Blake Jamieson, who recently told CNBC, “I firmly believe that I will be a millionaire in like eight weeks, just because I see the potential of the NFT stuff.” ....