Description: From art to sports trading cards, people are spending millions of dollars on digital collector’s items.These crypto collectibles, known as NFTs, have exploded in popularity lately. A video clip created by digital artist Beeple, whose real name is Mike Winkelmann, was flipped for a record $6.6 million last week. It had originally been bought for around $67,000.
Source: CNBC.com – video report
Date: Mar 03, 2021
Questions for discussion:
- Explain the concept.
- From a marketing point of view, how is price and value determined?
- Do you think this concept is sustainable?