The founder of a fractional art investing platform breaks down why he views NFTs as ‘pure speculation’

• Crypto art investing has gone mainstream after digital artist Beeple sold his work for $69 million.
• Scott Lynn, CEO of a fractional art investing platform, explains why he sees NFTs as speculation.
• He also breaks down how fine art has better risk-adjusted returns than other asset classes.

Scott Lynn has been getting lots of questions about non-fungible tokens (NFTs) these days.

After the digital artist Mike Winkelmann, also known as Beeple, sold a piece of digital artwork called “Everydays” for $69 million at the 254-year-old Christie’s auction house, several artists that Lynn works with started the process of creating NFTs due to the run-up in prices.

Lynn is the founder and chief executive of Masterworks.io, the first platform to allow investors to buy and trade fractional shares of blue chip art.