A reckoning in the digital asset industry that started in June after the collapse of improperly collateralized investment assets gained new urgency in November. Following the professional and possibly legal improprieties that led to bankruptcy and chaos at the FTX cryptocurrency exchange, the industry is regrouping and putting distance between legitimate market participants and … [Read more...] about Disentangling the Crypto Crash of 2022
In a recent conversation on crypto and NFTs, the inevitable question came up: what's this stuff worth? It's a link on a blockchain, after all. Yet NFTs are shaking up the art world, raising questions of artistic aesthetics and investment values. Artists can benefit both economically and legally. I covered the economic and legal aspects of NFTs in How Misuse of a Technical … [Read more...] about NFTs (Part2): Is It Art and What’s It Worth?
If the technical term "nonfungible token" was selected to describe how the art market meets FinTech as a way of catching attention, then it has succeeded mightily. It begs the inevitable questions: What the heck is that? Why would anyone buy that? The New York Times took that approach in its 03/12/2021 story on the largest sale of digital-asset token as art: "What Are NFTs, … [Read more...] about NFTs: Ugly Term for Beautiful Returns?