Recent viral attention on a newly popular digital asset—the non-fungible token (NFT)—has stirred up both hype and puzzlement. The initial concept behind NFTs was meant to give artists and creators more control, ownership, and financial benefit from their work. But the field for NFTs has quickly grown and become curiously lucrative, with even “minted” tweets from notable personas selling to the tune of millions and moving the innovators behind NFTs to speak out against overinflation and opportunism. This case attempts to explain the recent trend and asks students to determine its impact on the art market and on accepted notions of ownership and value.
Analyzing the NFT Mania: Is a JPG Worth Millions?
- Publisher:SAGE Publications: SAGE Business Cases Originals
- Publication year:2021
- Online pub date:
- Discipline: Economics, Finance, Consumer Behavior
- Contains:Teaching Notes
- Length:882 words
Region:GlobalIndustry:Creative, arts and entertainment activities| Financial and insurance activities| Motion picture, video and television programme production, sound recording and music publishing activitiesOrganization:TwitterOrganization Size:Type:Online ISBN:9781529779332Copyright: © Madeline Rae 2021