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The NFT Economy Is Just as Unequal as the Real One
The loudest boosters for NFTs, or non-fungible tokens, say that the blockchain technology has the capacity to democratize not only the art world, but all of the decentralized digital universe. A growing body of research, though, suggests that the burgeoning market is not so much creating a new order as recreating the structures of the old one, in which a powerful few control the system and reap the rewards. One recent study, which a team of researchers published in the leading science journal Nature, for example, found that “the top 10% of traders alone perform 85% of all transactions and trade at least once 97% of ... (full story)
