The prices of sports cards and odd collectibles are booming, too | The Economist

The prices of sports cards and odd collectibles are booming, too

Financial markets are social things, now more than ever

THE S&P 500 may be setting new highs, but to really take the measure of market exuberance look no further than Nyan Cat. The animated meme, encoded cryptographically into what is known as a “non-fungible token” (and which is unique and distinct from unencrypted versions of the animation that can be found with a quick internet search), was recently sold at auction for nearly $600,000.

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