Non-fungible token sales grew in August. This niche asset focuses on those most interested in art, sports, and media, attracting speculators who continually push the price higher. However, experts are still confused as to why so much money has flooded into this market. OpenSea, a large NFT trading platform, already sold $1.9 billion in tokens this month—over ten times the $148 million in sales recorded for March. While the amount of money spent on NFTs is baffling, news agencies report high-value “flippers” are generally buying low and selling high—similar to real estate and stock speculators.
