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 45 Yoga with Adriene The internet’s best friend is—finally—finding her own flow. Arts & Culture Garden Issue 45 Piet Oudolf The Dutch designer bringing life—and death—to traditional gardens. Arts & Culture Issue 45 Thomas MacDonell The conservationist transforming the Highlands. Arts & Culture Design Issue 45 The New Craftsmen From the Outer Hebrides to central London, Catherine Lock is celebrating the crafts heritage of Great Britain. Arts & Culture Music Issue 45 Gerard & Kelly On dance, domesticity and the giants of modernism. Arts & Culture Issue 45 Hang in There How to make the best of a bad job.
Arts & Culture Issue 45 Yoga with Adriene The internet’s best friend is—finally—finding her own flow.
Arts & Culture Garden Issue 45 Piet Oudolf The Dutch designer bringing life—and death—to traditional gardens.
Arts & Culture Design Issue 45 The New Craftsmen From the Outer Hebrides to central London, Catherine Lock is celebrating the crafts heritage of Great Britain.
