Why would anyone pay $600,000 for a cat meme, downloaded millions of times, and easily accessible to all on the internet? What does it say about our yearning to purchase and possess that one collector was willing to shell out thousands of dollars for a few-second clip of LeBron James slam-dunking? NFTs (the abbreviation stands for “non-fungible token”) are unique digital assets bought with cryptocurrency (Bitcoin, Ethereum or Dogecoin, for example). In some cases, such as memes, the images are widely accessible, and the purchase doesn’t halt their circulation and use. Twitter founder Jack Dorsey’s first-ever tweet from 2006—“just setting up my twttr”—is now valued at $2.5 million (1630.6 Ethereum). In creating a tokenized version of the tweet, he gave the buyer digital rights of ownership. This story is from Kinfolk Issue Forty-One Buy Now Related Stories Arts & Culture Issue 42 Anna Wiener Anna Wiener was on the path to Silicon Valley success. Then she pivoted. Allyssia Alleyne charts the making of a tech-skeptic. Arts & Culture Issue 42 Influencers Anonymous Instagram content creators answer a short survey about the influencer industry. Arts & Culture Issue 42 Crazy Busy There’s no rest for the aspirational. Arts & Culture Issue 42 The Goal Keepers Not your therapist, not your friend: What accounts for the remarkable rise of the life coach? Arts & Culture Issue 42 Torrey Peters The Detransition, Baby author is living her best life. Arts & Culture Issue 42 Trash Talk On wish-cycling and wishful thinking.
Arts & Culture Issue 42 Anna Wiener Anna Wiener was on the path to Silicon Valley success. Then she pivoted. Allyssia Alleyne charts the making of a tech-skeptic.
Arts & Culture Issue 42 Influencers Anonymous Instagram content creators answer a short survey about the influencer industry.
Arts & Culture Issue 42 The Goal Keepers Not your therapist, not your friend: What accounts for the remarkable rise of the life coach?
