What the NFT? VC David Pakman dumbs down the digital collectibles frenzy and why it’s taking off now

What the NFT? VC David Pakman dumbs down the digital collectibles frenzy and why it’s taking off now

3 years ago
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https://techcrunch.com/2021/02/26/what-the-nft-vc-david-pakman-dumbs-down-the-digital-collectibles-frenzy-and-why-its-taking-off-now/

Non-fungible tokens have been around for two years, but these NFTs, one-of-one digital items on the Ethereum and other blockchains, are suddenly becoming a more popular way to collect visual art, primarily, whether it’s an animated cat or an NBA clip or virtual furniture.

“Suddenly” is hardly an overstatement. According to the outlet Cointelegraph, during the second half of last year, $9 million worth of NFT goods sold to buyers; during one 24-hour window earlier this week, $60 million worth of digital goods were sold.