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It’s somewhat disingenuous to argue, as one prominent influencer did this weekend, that NFTs are a “non-speculative on-ramp to get started” in crypto. An NFT is very clearly an asset with a resale value that rises and falls. It can be many things – an artwork, a fundraising vehicle, a digital VIP pass – but more often than not, it’s something you can resell. Whatever an NFT is, it’s also a trading card. To buy one is to buy into the crypto market, which is to engage with those whiplash ups and downs.
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