A species of digital asset as unsexy-sounding as the "non-fungible token" — or the only marginally sexier "NFT" — is taking over the front pages, social media and, sadly for me, my life. On top of this are the dozens of NFT-flavoured press releases thwarting my increasingly vain attempts to reach inbox zero. In reality, NFTs are just the latest way that what we might call the cryptosphere — the industry that has sprung up over the past decade around blockchain, bitcoin and other tokens — has found to make a quick buck. So the sale should not be thought of as representing the true market value of NFTs, but as PR expenditure. People can subjectively assign value to something, and that is not something that we can really argue against, even if NFTs have no objective value whatsoever."

Source: New Zealand Herald March 17, 2021 20:47 UTC