Collectibles, Crypto NFTs, and the Monetization of Influence

The biggest story of the last month in the world of crypto has been the rapid rise of non-fungible tokens. For the uninitiated, NFTs are basically one-of-a-kind “artwork” or “cards” that are put on the blockchain and auctioned off to collectors or speculators.

While NFTs have been around for years, the last several weeks have seen an explosion of interest and hundreds of millions of dollars invested in these assets. Many people are speaking in breathless terms about how NFTs represent the future of the art market and will unleash a flourishing of creativity and new forms of value and so on.