It's hard to tell when the crypto bubble will burst, or if there is one

In a world populated with digital wolves, sheep and dogs, traditional notions of value don’t apply.

A June 2021 photo of a screen showing the fluctuation of virtual cryptocurrencies Bitcoin, Ether and Doge. PHOTO: REUTERS
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(NYTIMES) - Since late November, some of the world's savviest cryptocurrency investors have been hooked on a game that has cartoon sheep, cartoon wolves, a digital currency called $wool - and the potential to make real money. Mr Graham Friedman, a self-described crypto evangelist, is among them. He put up more than US$20,000 (S$27,000) of his own money to buy one wolf and one sheep - or, rather, unique digital images of them called non-fungible tokens.

"I'm like, dude, the narrative is so cool," said Mr Friedman, a director at Republic Crypto, a digital asset strategy company. "I'm here for the waltz."

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