For instance, Twitter CEO Jack Dorsey created an NFT out of his first tweet and sold it for US$2.9 million in early 2021. Digital artist Beeple sold an NFT of his work for US$69 million, making him one of the most valuable living artists.
“NFTs do not have an underlying economic return based on economic activity of companies or countries. Their payoff structure is speculative and volatile: You can win astronomically but you can also lose everything”, said Chuin Ting Weber, CEO of MoneyOwl, a bionic financial advisor. Financial experts warn that because NFTs are speculative in nature, the hope of attaining financial freedom through investing in NFTs is not a plan for financial success.
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