Non-Fungible Tokens and In-Game Item Sales

Nov 29th • 6:00 pm - 9:00 pm • Intela – Integrated Technology Lab

CryptoKitties made mainstream headlines, including one New York Times article, when some of the game’s digital collectibles were bought for over $100,000. According to Crunchbase, several prominent venture firms consequently invested a combined $12 million into the company that created these images of colorful felines. Around the same time, CNN reported that a group of 10 digital art collectors spent $1 million for the rights to the digital photo of a rose. This willingness of buyers to pay high prices for what are essentially easily reproducible digital images has observers scratching their heads in amazement, if not disbelief. So, why do people treasure some virtual items while assigning little to no value to others, and can virtual items truly be owned?


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