It is always hazardous to call out asset bubbles before they pop; bubbles can last for longer than we often imagine. But one asset class that looks suspiciously bubblicious is non-fungible tokens (NFTs) - one-of-a-kind digital files with ownership rights verified on a blockchain that can carry any type of digital content, such as art, music, text, video clips and even virtual real estate.
The numbers on the expansion of the NFT market vary depending on the source, but every estimate indicates that its growth has been explosive.
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