reinmoeller_ROSLAN RAHMANAFP via Getty Images_nft ROSLAN RAHMANAFP via Getty Images

Why the NFT Market Will Collapse

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Prices of non-fungible tokens remain high for now and may continue to increase for some time, but a crash will come. With central banks set to tighten monetary policy in an effort to rein in inflation, new and untested asset classes are likely to be punished harder than more reliable ones.

LAUSANNE – In March 2021, the auction house Christie’s sold a JPEG file created by the artist Beeple for $69.3 million, a record for a digital artwork. The ownership of the “original” JPEG – entitled “Everydays: The First 5000 Days” – was secured as a non-fungible token, or NFT.

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