Dear Readers,
2020 and early 2021 were all about Bitcoin. Both Wall Street and retail users were infatuated with it. Their fascination at the time centered on Bitcoin’s fiat-based price appreciation, but once its price increases slowed, much of their attention moved to other things.
The latter half of 2021 saw the rise of NFTs, or non-fungible tokens, especially NFTs that represented digital artwork. While the market was “hot”, NFT collections and platforms regularly saw millions of US dollars’ worth of trading volume.
But while NFTs are meant to attest to the uniqueness of an underlying asset, good, or piece of information, I believe they harbor a dark side that can’t be ignored:
