Simran Kaur is founder of the Girls That Invest podcast.
OPINION: The Financial Diet, one of the largest independently-owned financial media platforms, recently came out with a conversation so controversial, it had to publicly defend its stance against the backlash it received.
Never has a conversation about an investment product lead to such a controversial opinion being shared online.
Founder Chelsea Fagan was speaking about the negative implications of investing in NFTs.
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* NZ musician shocked to find his album art being sold as an NFT on US website without permission
* NFTs have gone from digital curiosity to a crowded, creaking bandwagon
* The frame: What are NFTs anyway?
NFTs have been all over mainstream media lately, with personalities like Canadian singer Justin Bieber spending US$1.29 million (NZ$2m) on a single NFT. More recently, Kiwi influencer Jimi Jackson came out with an NFT called “Kiwis and Kangaroos”.
When minting an NFT can land Kiwis a free 2019 Lamborghini Huracan, the NFT space has both strong supporters and even stronger critics.
So let’s break it down without the noise, what even is an NFT? Is it an investment Kiwis should be considering? Or is it just another modern pump and dump scam?
Andrey Metelev/Unsplash
The value of NFT tokens can change depending on what exactly the NFT holder owns.
The lowdown on NFTs
NFT stands for a non-fungible token. It is a digital token, a bit like an online certificate to say you own the rights to…
