The desire for wealth – more than a passion for collecting – is driving the boom in nonfungible tokens (NFTs), journalist James Surowiecki finds in this handy explainer of the latest thing in investing. Creators use the attributes of blockchain to produce one-of-a-kind digital items that speculators are bidding up in frenzies that recall past investment booms. But as Surowiecki discovers, the big winners in this new marketplace may well end up being the service providers that facilitate all the hubbub.
About the Author
James Surowiecki is a financial journalist and the author of The Wisdom of Crowds.