Crypto Train auction may be NFT 'overkill'
A digital-only cryptocurrency artwork takes the non-fungible token virtual investment trend along a new track.
Euromoney’s eye is drawn to news of a digital artwork that only exists as a high-resolution file, and which showcases the parallel between traditional money and cryptocurrencies.
“Even before The Crypto Train went to auction, we received significant offers from serious crypto enthusiasts and Silicon Valley investors who are the ones who currently seem to most understand this exploding virtual investment trend,” says Stephen Howes, director of Thomas Crown Art, a leading independent international art agency handling the sale.
He describes NFTs as “an investment megatrend of the decade” and suggests that NFT sceptics “would have been those people who knocked the potential of the internet in the ‘90s and who would have said Amazon as an online retailer ‘won’t catch on’ in the 2000s”.