By Walt Hickey Bag Holding In March of 2021, someone bought an NFT — a non-fungible token, the kind of cryptography-enabled digital asset that has caused a bit of a frenzy in some circles with prices rising to bubble-esque levels — of the first tweet ever, paying the equivalent of $2.9 million. Last week, the NFT was up for sale for $48 million. The item did not sell for $48 million. It did not sell for $2.9 million. The auction closed with just seven bids, and the best offer was 0.09 ETH, or
The first bit is a perfect encapsulation of just how stupid NFT art and collectibles are. Paying so you can scream into the void that your hex key means it’s YOU who “owns” something literally every single person in the world can access exactly the same as you. So valuable!