If you don’t think the central banks have unleashed the speculative furies like never before, consider the digitized image of Orange Man collapsed on the ground as shown below. A recent Reuters story tells you all you need to know:
In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million.
Folks, when anything–even water from the fountain of youth—goes up by 100X in 100 days, what you have is a brobdingnagian bubble, not some new technological wonder.
Yes, the above video called “Crossroads” made by a digital artist named Beeple is something new under the sun in the sense that is it is domiciled and authenticated on the block chain. The latter serves as a digital signature certifying who owns it and that the likeness above is of the original, supposedly one-of-a-kind digitized work.