Cryptocurrency’s Newest Frontier

It started with a picture posted on the internet, and ended in an extravagant cryptocurrency bidding war. NFTs, or “nonfungible tokens,” have recently taken the art world by storm. Sabrina Tavernise, a national correspondent for The Times, speaks with the Times columnist Kevin Roose about digital currency’s newest frontier, his unexpected role in it and why it matters.

Guest: Kevin Roose, a technology columnist for The Times who examines the intersection of technology, business, and culture.

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Background reading: 

• NFT mania has reached new highs in recent months, with a digital artwork by an artist known as Beeple selling for $69.3 million. A trading card featuring the quarterback Tom Brady sold for $1.3 million and an NFT of the first tweet from Jack Dorsey, the chief executive of Twitter, went for $2.9 million.
• What are these nonfungible tokens and why do people pay so much for them? Here’s a primer.
• A picture of Kevin Roose’s column “Buy This Column on the Blockchain!” was put up for auction and sold for about $725,000. He also wrote about the surreal experience of selling the NFT and spoke to a few people who placed bids.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.

It started with a picture posted on the internet, and ended in an extravagant cryptocurrency bidding war. NFTs, or “nonfungible tokens,” have recently taken the art world by storm. Sabrina Tavernise, a national correspondent for The Times, speaks with the Times columnist Kevin Roose about digital currency’s newest frontier, his unexpected role in it and why it matters.
Guest: Kevin Roose, a technology columnist for The Times who examines the intersection of technology, business, and culture.
Sign up here to get The Daily in your inbox each morning. And for an exclusive look at how the biggest stories on our show come together, subscribe to our newsletter. 
Background reading: 

NFT mania has reached new highs in recent months, with a digital artwork by an artist known as Beeple selling for $69.3 million. A trading card featuring the quarterback Tom Brady sold for $1.3 million and an NFT of the first tweet from Jack Dorsey, the chief executive of Twitter, went for $2.9 million.
What are these nonfungible tokens and why do people pay so much for them? Here’s a primer.
A picture of Kevin Roose’s column “Buy This Column on the Blockchain!” was put up for auction and sold for about $725,000. He also wrote about the surreal experience of selling the NFT and spoke to a few people who placed bids.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.The Daily