When Tulips Were Worth More than Gold

Would you ever spend two hundred and thirty thousand dollars on an NFT? For some people, that’s a maybe. For me, it’s a little baffling. NFTs are, in essence, a case of the perceived value of a product and predicting how the market for that product will behave. People invest, hoping the market will boom, allowing them to profit before interest in that product wanes. It’s a delicate balance of speculation and gambling. And the historian in me can’t help thinking NFTs are a modern incarnation of Tulipmania, the period in the Netherlands in the early 1600s when tulips were more valuable than…