Daniel Saraga has written an interesting article on how NFTs disrupted the art market in less than a year. He explains how NFTs work and shows the enormous hype about NFTs and the speculation involved. Prof. Claudio Tessone, the chairman of the UZH Blockchain Center, points out that the design of current blockchains (e.g., constant rate of supply) fuels this speculation. Furthermore, it is a myth to think that blockchain transaction are private. As Claudio Tessone points out, everything on a blockchain network is transparent and even though users are pseudonymous, one can with the help of mathematical network techniques unravel user’s pattern.
Link to the article: https://swissnexboston.medium.com/how-nfts-disrupted-the-art-market-in-less-than-a-year-d4367791eb52
