BACKGROUND:
BBC are reporting on this morning that NFT-based fantasy football card firm raises $680m.
The BBC do report on NFT worries:
“NFTs are also controversial. Depending on the technology used, maintaining a blockchain requires considerable computing power with a sizeable carbon footprint.
As in traditional investing, financial impropriety and crime are a risk, but the protections for consumers are generally less robust.
There are also concerns about a lack of regulation. Recently OpenSea, the largest digital collectable marketplace, revealed an employee used inside knowledge to buy NFTs before they were promoted on the website. Insider trading – where individuals use non-public knowledge about a company for financial advantage – is illegal in most regulated markets. But the NFT market does not have such restrictions”.
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