You might already have heard how cryptocurrencies and other digital assets especially NFTs have skyrocketed in fame and price.
Just this Friday Adidas launched 30,000 NFTs and sold 29,620 with in a few hours. Each of these NFTs was valued about 0.2 ETH which at the time of auction equaled $760 to $770. So in matter of a few hours Adidas earned more than $22 millions in a single auction. They took 380 NFTs off the auction for future events.
Although the jury is still out on whether this is an unsustainable bubble ready to pop, or if we’re about to see the birth of a new long-term investment asset class that artists can capitalize on by selling their artwork as NFTs but with so many big companies and world-famous celebrities getting involved in this line of business this hype of NFTs is surely going to last for quite some time or perhaps forever.
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