NFT sales surge as speculators pile in, sceptics see bubble
The Hindu
Rising cryptocurrency prices may have also played a role in the surge. NFTs are often valued in ether, which has risen around 23% in August.
Non-fungible token (NFT) sales surged in August, according to the largest platform for the burgeoning digital asset class, as speculators bet growing interest across the art, sport and media worlds will keep prices rising. (Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) The niche crypto asset, which is a blockchain-based record of ownership of a digital item such as an image or a video, exploded in popularity in early 2021, leaving many confused as to why so much money was being spent on items which do not physically exist.
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