Art & History
Is NFT Art the Next Tulip Mania?
If history repeats itself—like it so often does—then NFT art could leave millions of investors broke
NFT art is booming.
For those who aren’t aware, NFT stands for non-fungible token and is used to describe a tradeable digital asset that is one-of-a-kind or limited in quantity. These assets can take on many forms, such as digital art, videos and music.
Some of the most popular NFT art collections are CryptoPunks, Bored Ape Yacht Club and Doodles.
Bored Ape Yacht Club is the most notable NFT collection, with a current market cap of $2.9 billion based on a floor price of $$290K spread across 10,000 NFTs in the collection.
Celebrities are not only snatching up Bored Apes and other NFTs, they are fully supporting the growing trend by releasing their own collections.
Former professional boxer and actor Mike Tyson is an avid supporter of NFTs, who released his own boxing-inspired NFTs that come with exclusive perks from the legendary boxer.
The rapper Snoop Dogg, who recently purchased his former record label, Death Row Records, released a limited collection of music NFTs. At the time of their initial public offering, they were…
