A question for the art world: Will NFT craze last or is it just another form of 1637 'tulip mania'?
In February 1637, at the height of the speculative frenzy in the Netherlands we now know as “tulip mania,” a single bulb of the prized Viceroy tulip sold for 6,700 guilders, enough to buy a grand house in one of Amsterdam’s most desirable districts. The market for tulips collapsed later that month, with prices of more common bulbs falling by as much as 95%. Since then, tulip mania has become a byword for the irrationality of financial bubbles. So what about NFT mania? Last week, Nifty Gateway, a specialist online marketplace for nonfungible tokens, or NFTs, held an auction that included...
Source: indiatimes.com