By Jeff Brown, editor, The Bleeding Edge
By Jeff Brown
Dear Reader,
How much would you pay for a piece of digital art?
It’s a question I’d ask us to consider today.
Many people are making millions in a matter of weeks buying and selling a unique kind of digital asset that we may already be familiar with – non-fungible tokens, or NFTs.
For newer readers, NFTs are digital assets that are cryptographically secured and authenticated on a blockchain. We can think of these as digital collectibles.
Artwork, trading cards, exclusive video clips, poems, and similar items can all be “tokenized” and stored on a blockchain.
And what has happened in this space over the last year is simply remarkable…
Let’s take the Bored Ape Yacht Club, for example. It may not be on every reader’s radar.
This is a series of digital collectibles showing humorous drawings of various apes. You might think this sounds silly on its face… but this collection is among the most valuable in the entire NFT market.
One NFT in this collection jumped from $228 to more than $560,000. That’s a 246,501% return.