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 49 Karin Mamma Andersson Inside the moody, mysterious world of Sweden’s preeminent painter. Arts & Culture Issue 49 Jenny Odell The acclaimed author in search of lost time. Arts & Culture Issue 49 Amalie Smith The Danish arts writer finding clarity between the lines. Arts & Culture Issue 49 Ryan Heffington Meet the man bringing choreography, community and queer joy to the desert. Arts & Culture Issue 49 Nell Wulfhart Advice from a decision coach. Arts & Culture Fashion Issue 49 A World of Difference A fun lesson in cultural faux pas.
Arts & Culture Issue 49 Karin Mamma Andersson Inside the moody, mysterious world of Sweden’s preeminent painter.
Arts & Culture Issue 49 Ryan Heffington Meet the man bringing choreography, community and queer joy to the desert.
