In this week’s newsletter: in early 2022 ‘non-fungible tokens’ were a supposedly revolutionary million-dollar asset. Now, they’re practically worthless
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A funny thing happened in Hong Kong earlier this month. Well, funny unless you were there.
The annual ApeFest, where collectors of Bored Ape NFTs (remember them?) took place in Hong Kong (for the uninitiated, NFTs, or non-fungible tokens, can be linked to products like digital artworks and traded for cryptocurrencies on the open market). Nouveau-riche investors who got rich off the back of the revolutionary technology and investment products came together to party. Hard.
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