I bought my daughter an NFT

Constrained ownership of digital assets could mean thrilling possibilities.

The chaotic pandemic contributed to a frenzied focus on a new stage for non-fungible tokens. I was introduced to the concept a few years back and followed with interest the explosion of attention more recently. I wanted to purchase an NFT to become more familiar with the process, to support an artist and, most importantly, to give my young daughter a small slice of this strange moment in time.

The process is still quite clunky, expensive and fairly confusing — with multiple related systems. It helped that I also recently went through a similar process to chip into a DAO.

With advice from a friend, SACMW and I picked out Crypto Chick #7850, the second collection ever of women avatars sold as NFTs. An NFT artist who goes by the name Ms. Polly is behind the collection. The transaction can be found on the blockchain here. A fun part of the “smart contracts” of an ETH purchase is that the artist will received 4% royalties if we ever sold this asset again.

The total cost was about $600 USD, or $450 for the purchase and $150 in the outrageous fees associated with crypto purchases right now.