NFT: Why do people spend large sums of money on virtual pixels? – digital


Almost $ 3 million for a tweet, $ 69 million for a digital collage. Why do some people spend incredible amounts of money on NFTs – a few virtual pixels? An attempt to explain.


Hans von der Hagen and Simon Hurtz

Just a few pieces of news from the past few days: Christie’s auction house is auctioning a digital collage of 5000 images by US artist Beeple for $ 69 million. The first tweet from Twitter founder Jack Dorsey changes hands for almost three million dollars. More precisely: the NFT of the rather banal words “just setting up my twttr”. Monty Python founder John Cleese scribbles a few lines on his iPad, calls them BrooklynbridgeNFT and puts the pixelated JPG image up for sale. The auction was supposed to caricature the NFT hype – and yet the highest bid is already more than 30,000 dollars. What’s behind it? An attempt to explain.

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