Are NFTs Securities? OMG!by@howardmarks
2,527 reads

Are NFTs Securities? OMG!

April 6th 2021
5 min
by @howardmarks 2,527 reads
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NFTs (non-fungible tokens) are smart contracts on the Ethereum blockchain that first began as a modern twist of Tamagotchi in the form of collectibles (think digital baseball cards) Jack Dorsey, the founder & CEO of Twitter, sold his first tweet as an NFT for $2.9M (to Dorsey’s credit, the proceeds went to charity) Living painters and musicians are selling their art as NFT. Nifty Gateway, which sells artwork pieced into many Nfts, is one of many at the front of the latest hype machine of digital collectibles. If they are, all of those NFT promoters and artists are committing a securities violation.

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