Tesco
Why the NFT Craze Is a Bubble Waiting to Pop
Article

Why the NFT Craze Is a Bubble Waiting to Pop

The latest collectible boom is fueled by speculators, not enthusiasts

James Surowiecki
Marker, 2021
Read the article

Read or listen offline

  • 0.5×
  • 0.75×
  • 1×
  • 1.25×
  • 1.5×
  • 1.75×
1×

Editorial Rating

9

Qualities

  • Eye Opening
  • Overview
  • Background

Recommendation

The desire for wealth – more than a passion for collecting – is driving the boom in nonfungible tokens (NFTs), journalist James Surowiecki finds in this handy explainer of the latest thing in investing. Creators use the attributes of blockchain to produce one-of-a-kind digital items that speculators are bidding up in frenzies that recall past investment booms. But as Surowiecki discovers, the big winners in this new marketplace may well end up being the service providers that facilitate all the hubbub.

Take-Aways

  • Nonfungible tokens (NFTs) are the newest new thing in the digital world.
  • The frenzied rush for NFTs evokes past speculative manias.
  • The endgame for NFTs may play out differently than those of past collectible crazes.

About the Author

James Surowiecki is a financial journalist and the author of The Wisdom of Crowds.

Comment on this summary or 开始讨论