Analyzing the NFT Mania: Is a JPG Worth Millions?


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.

This case was prepared for inclusion in SAGE Business Cases primarily as a basis for classroom discussion or self-study, and is not meant to illustrate either effective or ineffective management styles. Nothing herein shall be deemed to be an endorsement of any kind. This case is for scholarly, educational, or personal use only within your university, and cannot be forwarded outside the university or used for other commercial purposes.

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