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Mathew Ingram

Mathew Ingram

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Axie Infinity, DAOs and the future of money

Publisher
Mathew Ingram
November 08
I'm as skeptical of cryptocurrency as the next guy -- maybe even more so, since I keep reading about "rug pulls," where the founder of a currency or a seller of NFTs disappears with the millions of dollars he has raised (you know it's bad when this kind of thing is so common that people have already come up with a special term for it). There are a lot of scam artists out there attracted by the smell of easy money, and the whole idea of an NFT -- a piece of code that exists on the blockchain, and in many cases simply points to a URL, which in turn points to an NFT gallery that basically hosts a JPEG of the image someone has paid hundreds of thousands or even millions of dollars for -- seems bizarre to me. But then, so does modern art in general.