AUSTIN, Texas—The froth was lit. Backlit.
The return of South by Southwest this 12 months has been a principally muted affair. The one main queue—wrapped across the block most days—has been to get right into a warehouse decked out with fluorescent observe lighting to have a good time “Doodles,” a group of NFTs. Inside, there was one other lengthy line, for cappuccino artwork within the form (a time period for use fairly loosely) of a Doodle.
Is it even enjoyable anymore to make enjoyable of NFTs? “I feel NFTs are usually cringe,” mentioned Doodles co-founder Evan Keast, sporting a Doodles T-shirt contained in the Doodles exhibition, whereas the scent of Doodles noodles wafted round.
Mr. Keast has made oodles from Doodles. A consultant mentioned some $300 million of the NFTs have modified arms—and the creators nab a 2.5% reduce of every transaction. At South by Southwest, the corporate hosted a not-so-secret social gathering headlined by the D.J. Diplo. To attain an invitation, attendees wanted to buy a Doodle for round $25,000.
Nope, undoubtedly no froth on this market.
Write to Rob Copeland at firstname.lastname@example.org
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