This week, Adrian looks at whether buying digital art through NFTs (‘non-fungible tokens’) is for suckers or savvy collectors. He’s joined by Lory Kehoe, adjunct associate professor at Trinity Business School and director of digital assets at BNY Mellon.
The discussion looks at the recent $69m auction sale at Christie’s for an NFT-linked digital canvas, as well as the $2.9m sale of Jack Dorsey’s first tweet via NFT and the growing prominence of Ireland’s own Kevin Abosch, who has sold over €1m in NFT digital art in the last month.
What exactly do you own when you buy a piece of art via NFT? What’s to stop someone simply copying it at the click of a button? And where does it all fit in to the growth of crypto-currencies and blockchain?
The two also look at the IPO of Coinbase and ask whether it’s worth the extraordinary valuation.