Like Professor Paul Hallwood (Letters, January 8) I too was struggling to see a convincing reason for buying non-fungible tokens to own some rather dubious digital artworks until I read the excellent article by Hannah Murphy and Joshua Oliver (“NFT mania gives art world a run for its money”, Report, January 7).
The clue lay in paragraph 10. An NFT demonstrates you are wealthy enough to join an exclusive club with invitations to mingle and communicate with others of the same financial rank, the digital world’s equivalent to a country club.
Here in Singapore exactly that scheme is currently being launched by the scions of local rich Asians.
Having neither the means nor the motivation, I can but echo the words of Groucho Marx, who wouldn’t want to join a club that would accept him as a member.