So, while they are most definitely a bubble (obvious by their booming growth, fragile and volatile nature, reliance upon people’s confidence and belief in their value), NFTs are far more dynamic than the more straight-forward world of cryptocurrency. NFTs are the most dynamic and potentially flexible form of cryptocurrency Their non-fungible nature perhaps allows the NFT to wear its heart more on its sleeve compared to cryptocurrencies which are more typically shrouded in the mysterious and winding reels of blockchain or whose value is predicated upon the whim of Elon Musk’s tweets. NFTs are digital certificates of authenticity so to own one is, in a sense, the possession of the authentic piece of digital artwork. Where Bitcoin and Ethereum have been plagued by instability and doubt, NFTs offer a form of cryptocurrency tied to more tangible notions of value, artwork. NFTs are the most dynamic and potentially flexible form of cryptocurrency. Owners of $70 million Jpeg might not look so clever certainly.īut instead of getting into the potential woes of NFT owners, sellers, and producers, let us think about the current crypto landscape. When it does it may make some rich suckers very sad, and it may alter the careers of many online artists or NFT minters. With this in mind, the booming world of Non-Fungible Tokens (NFTs) can be observed as a bubble very nearly fit to burst. But still, they will inevitably burst despite their seemingly stolid foundations and the apparently unfaltering confidence of buyers willing to invest millions.

Like those momentary and fragile liquid ones we are so used to, financial bubbles can swell quickly, sometimes to huge proportions. It’s usually no surprise when financial bubbles burst.

Bubble burst