Economic Affairs

The wild world of NFTs

It's a revolution, but fraught with risk.

Twitter founder Jack Dorsey's first tweet from 2006 - "Just setting up my Twttr" - sold for US$2.9 million (S$3.9 million).
Twitter founder Jack Dorsey's first tweet from 2006 - "Just setting up my Twttr" - sold for US$2.9 million (S$3.9 million).PHOTO: SCREENGRAB FROM VALUABLES

These days, hardly a week passes without news of somebody paying an outrageous price for some non-fungible token (NFT).

Some of the recent examples have been eye-popping: Twitter founder Jack Dorsey's first tweet from 2006 - "Just setting up my Twttr" - sold for US$2.9 million (S$3.9 million). CryptoPunk #3100 - a meme of an alien - sold to an anonymous buyer for US$7.6 million.

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.