NFTs driving boom in digital art sales offer crypto windfalls

SourceThe National
CountryMiddle east

While digital art is having a moment after Beeple’s shocking $69 million sale of an NFT-backed piece last month, copycats hoping to cash in might want to focus on the tokens themselves instead of the collectibles. Since Everydays: the First 5,000 Days set its sales record, the prices of dozens of non-fungible tokens that track ownership and sales prices of digital art have surged – boosting the market almost 10-fold to $20 billion, according to crypto data tracker That dwarfs even Bitcoin’s meteoric rise in the past few months. The surge is happening even as observers question whether NFTs, which are also more...