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). PHOTO: SCREENGRAB FROM VALUABLES
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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.

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