A New Asset Class: NFTs Set to Take Off

A New Asset Class: NFTs Set to Take Off
The history of alternative assets goes something like this: Someone creates something useful and then people realize these can be invested. Commodity futures, for instance, were invented as a way for farmers to lock in prices ahead of a harvest; 70 years later, the global derivatives market is worth hundreds of trillions of dollars. Musicians’ royalties were initially just a legal way for performers to ensure they got paid whenever their recorded music was played; now investment funds like Hipgnosis buy these royalty streams for hundreds of millions of dollars.This dynamic repeats itself over and over again, from baseball card…