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Here's Why NFTs Are Crypto's Latest Pump-And-Dump Scheme


Reuters
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An NFT owner doesn t have any copyright or legal rights to the piece if there isn t a contract.
The digital artwork lives on the internet where anyone can still watch, listen to, or copy without paying.
When buying an NFT, the actual object isn t being purchased.
Non-fungible tokens have taken the world by storm, becoming the hottest thing in the cryptocurrency market within only a few months. They are touted as a way to revolutionize the way digital art is bought and sold. But a closer look reveals NFTs are no more than a pump-and-dump scheme designed to make a few crypto insiders rich.    ....

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Is the NFT Market a Bubble? Prices Plunge but Sales Increase


Beeple s record sale
Business Insider
While the average price of NFTs have fallen from their highest point in February, average crypto art prices have been fluctuating in recent weeks. Between February and the end of March, prices dropped 70% but have since climbed 30% from a low around $1,200 last month.
Melissa Gilmour, the founder of the London-based NFT agency Lily & Piper told CNN the price drop is likely not permanent.
There are elements of a hype cycle in this one, but we still see it as an immense long-term opportunity, she told CNN.
Still, March s lows were far above where the NFT market was just four months ago. In January, the average price for a crypto art piece was about $195 the year before it was $30. ....

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