Too Long; Didn't Read
NFTs are taking a similar approach to ICOs, and perhaps an even more creative one. A bunch of business people find cool artists to create virtual artwork, piece it up in many tokens, and then auction off the tokens to investors. Then those investors turn around and sell it on marketplaces on the blockchain. Sound familiar? This is what the ICO marketplace was four years ago. The SEC sued quite a number of the companies behind those sales. Hundreds of millions of dollars of restitution later and many convictions.