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 47 Alice Sheppard On dance as a channel to commune with the body—even when it hurts. Arts & Culture Issue 47 Dr. Woo Meet the tattoo artist who's inked LA. Arts & Culture Issue 47 Walt Odets The author and clinical psychologist on why self-acceptance is the key to a gay man's well-being. Arts & Culture Fashion Issue 47 A Picture of Health Xiaopeng Yuan photographs the world’s weirdest wellness cures. Arts & Culture Issue 47 Chani Nicholas and Sonya Passi Inside the astrology company on a mission to prove workplace well-being is more than a corporate tagline. Arts & Culture Issue 47 Julia Bainbridge On the life-enhancing potential of not drinking alcohol.
Arts & Culture Issue 47 Alice Sheppard On dance as a channel to commune with the body—even when it hurts.
Arts & Culture Issue 47 Walt Odets The author and clinical psychologist on why self-acceptance is the key to a gay man's well-being.
Arts & Culture Fashion Issue 47 A Picture of Health Xiaopeng Yuan photographs the world’s weirdest wellness cures.
Arts & Culture Issue 47 Chani Nicholas and Sonya Passi Inside the astrology company on a mission to prove workplace well-being is more than a corporate tagline.
