An analysis conducted by dappGamble, a community of experts in financial technology, estimates that 23 million NFT owners have assets of little or no value. In Aotearoa, New Zealand Rugby, NZ Post and Dan Carter’s Glorious Digital all created high-profile NFT collections amid the boom. Glorious Digital, whose site describes the brand as “delightful” and “life-affirming”, has several high-profile endorsers, including former All Black Dan Carter and former Solicitor-General Michael Heron Casey. The rationale for a platform like Glorious Digital is that they work with artists to create digitally certified original artwork. Now, a class action lawsuit from anonymous NFT investors is suing Sotheby’s for using the names of high-profile celebrities to inflate the price of the asset.

Source: Stuff October 16, 2023 18:32 UTC