For all the ways that this particular moment in the history of markets feels strangely futuristic — computer dollars buying cyberart on the digital marketplace! — the basic dynamic at work here is a recognizable one. There are a lot of suckers who want to get rich fast without much work. The economy has always been weird; it’s an aggregation of human behavior, and humans are weird.
But roiling under this familiar surface is the reverberation of a much larger, fundamental shift: Something is changing in how we think about money. Maybe the question we should have been texting our financially literate friends wasn’t “What is an NFT?” but “What is money now?”