More NFT madness. Something’s gonna crash.

Everyone seems to be diving into the non-fungible token craze, something that’s only going to weirder after Beeple, a visual artist, sold a .jpg(!!!) piece for US$69 million.

No, that’s not a typo. Someone paid exactly $69,346,250.00 for a piece of art that cannot be hung on a wall. Money for nothing?

Meanwhile, a ton of musicians are jumping on the bandwagon. Hey, with Kings of Leon making US$2 million in a couple of days, Deadmau5 selling hundreds of thousands worth of digital swag, and Space Yacht’s third round of NFTs selling for big money, wouldn’t you?

Here are a few more examples of NFT initiative, some of which are simply mad.

You gotta think that someone somewhere is going to make a terrible mistake in the haste to capitalize on this digital hype. Has anyone done serious, sober, and scientific research into the market for NFTs?

If you’re thinking of getting into this space, best read this first.

Alan Cross

is an internationally known broadcaster, interviewer, writer, consultant, blogger and speaker. In his 30+ years in the music business, Alan has interviewed the biggest names in rock, from David Bowie and U2 to Pearl Jam and the Foo Fighters. He’s also known as a musicologist and documentarian through programs like The Ongoing History of New Music.

One thought on “More NFT madness. Something’s gonna crash.

  • March 12, 2021 at 10:55 pm
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    If non-fungible tokens are a thing, would fungible tokens also be a thing? Maybe that’s where the real money is…or will be. Just saying.

    Reply

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