🕷️ Crawler Inspector

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Direct Parameter Lookup

Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 189 (from laksa088)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa189.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://hbr.org/2021/11/making-sense-of-the-nft-marketplace\')), getAhrefsUnparsedNoserviceFromURL(\'https://hbr.org/2021/11/making-sense-of-the-nft-marketplace\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/hbr.org\/2021\/11\/making-sense-of-the-nft-marketplace","crawl_time":1776327759,"first_indexed_time":1637248767,"http_code":200,"src_unparsed":"org,hbr!\/2021\/11\/making-sense-of-the-nft-marketplace s443","src_root_hash":"17785107536982452189","history_drop_reason":null,"meta_title":"Making Sense of the NFT Marketplace","meta_descriptions":["NFTs, or non-fungible tokens, have become a major industry. But as with most emerging technologies, there are many competing platforms and approaches to growth, and it’s not always obvious which is the best fit for a given business. In this piece, the authors first argue that NFT platforms fall on a spectrum from streamlined (lower-cost, more-generic services) to augmented (higher-cost, more-specialized services), and that content creators should focus on those key differences when determining which platform to work with. They offer several examples to provide some inspiration to NFT industry newcomers, illustrating the wide variety of ways in which NFT platforms can add value to both buyers and sellers. Next, the authors suggest that unlike traditional market platforms such as Amazon, we’re unlikely to see a single victor emerge, both because of the fundamental openness of publicly-accessible blockchain technology, and because of the significant value offered by a variety of custom services. As such, the authors advise that both firms and individual creators should evaluate how the many options currently available and align with their unique business needs, and if a particular platform or strategy seems like a good opportunity, they should go ahead and give it a try."],"attrs_boilerpipe_text":"Harvard Business Review Logo\nNovember 18, 2021\nHBR Staff\/Andriy Onufriyenko\/Getty Images\nNon-fungible tokens (NFTs) may seem like a\npassing craze\n, but with over\n$10 billion\ntraded in the third quarter of 2021 alone, it’s become clear that this emerging technology — a blockchain-based tool that enables anyone to monetize digital content — is growing into a major industry. In March of this year, musician 3LAU collaborated with crypto startup Origin Protocol to create a specialized platform to sell his new album as an NFT, where it ultimately sold for\n$11.6 million\n. Visual artist Beeple\nfamously sold\na tokenized digital artwork for $69 million through Christie’s auction house, and the NBA’s Top Shot, which is owned by crypto platform Dapper Labs and enables fans to buy and sell tokenized video clips of basketball game highlights, has generated over\n$715 million\nin transaction volume.","attrs_markdown":"[SKIP TO CONTENT](https:\/\/hbr.org\/2021\/11\/making-sense-of-the-nft-marketplace#main)\n\n[Strategy](https:\/\/hbr.org\/topic\/subject\/strategy)\\|Making Sense of the NFT Marketplace\n\n[Subscribe](https:\/\/hbr.org\/subscriptions?ab=topbar-subtout&tpcc=houseads.site.topbar-subtout)\n\nSign In\n\n- [Latest](https:\/\/hbr.org\/the-latest)\n- [Magazine](https:\/\/hbr.org\/magazine)\n- [Topics](https:\/\/hbr.org\/topics)\n- [Podcasts](https:\/\/hbr.org\/podcasts)\n- [Store](https:\/\/hbr.org\/store)\n- [Reading Lists](https:\/\/hbr.org\/reading-lists)\n- [Data & Visuals](https:\/\/hbr.org\/data-visuals)\n- [Case Selections](https:\/\/hbr.org\/case-selections)\n- [HBR Executive](https:\/\/hbr.org\/executive)\n\n- [Latest](https:\/\/hbr.org\/the-latest)\n- [Podcasts](https:\/\/hbr.org\/podcasts)\n- [The Magazine](https:\/\/hbr.org\/magazine)\n- [Store](https:\/\/hbr.org\/store)\n- [Webinars](https:\/\/hbr.org\/webinars)\n- [Newsletters](https:\/\/hbr.org\/email-newsletters)\n- [All Topics](https:\/\/hbr.org\/topics)\n- [Reading Lists](https:\/\/hbr.org\/reading-lists)\n- [Data & Visuals](https:\/\/hbr.org\/data-visuals)\n- [Case Selections](https:\/\/hbr.org\/case-selections)\n- [HBR Executive](https:\/\/hbr.org\/executive)\n- [My Library](https:\/\/hbr.org\/my-library)\n- [Account Settings](https:\/\/hbr.org\/my-library\/settings)\n- Sign In\n\n## Explore HBR\n- [Latest](https:\/\/hbr.org\/the-latest)\n- [The Magazine](https:\/\/hbr.org\/magazine)\n- [Podcasts](https:\/\/hbr.org\/podcasts)\n- [Store](https:\/\/hbr.org\/store)\n- [Webinars](https:\/\/hbr.org\/webinars)\n- [Newsletters](https:\/\/hbr.org\/email-newsletters)\n\n## Popular Topics\n- [Managing Yourself](https:\/\/hbr.org\/topic\/managing-yourself)\n- [Leadership](https:\/\/hbr.org\/topic\/leadership)\n- [Strategy](https:\/\/hbr.org\/topic\/strategy)\n- [Managing Teams](https:\/\/hbr.org\/topic\/managing-people)\n- [Gender](https:\/\/hbr.org\/topic\/gender)\n- [Innovation](https:\/\/hbr.org\/topic\/innovation)\n- [Work-life Balance](https:\/\/hbr.org\/topic\/work-life-balance)\n- [All Topics](https:\/\/hbr.org\/topics)\n\n## For Subscribers\n- [Reading Lists](https:\/\/hbr.org\/reading-lists)\n- [Data & Visuals](https:\/\/hbr.org\/data-visuals)\n- [Case Selections](https:\/\/hbr.org\/case-selections)\n- [HBR Executive](https:\/\/hbr.org\/executive)\n- [Subscribe](https:\/\/hbr.org\/subscriptions?ab=leftnav-subtout&tpcc=houseads.site.leftnav-subtout)\n\n## My Account\n- [My Library](https:\/\/hbr.org\/my-library)\n- [Topic Feeds](https:\/\/hbr.org\/my-library\/topics)\n- [Orders](https:\/\/hbr.org\/my-library\/orders)\n- [Account Settings](https:\/\/hbr.org\/my-library\/settings)\n- [Email Preferences](https:\/\/hbr.org\/my-library\/preferences)\n- Sign In\n\n[Strategy](https:\/\/hbr.org\/topic\/subject\/strategy)\n\n# Making Sense of the NFT Marketplace\nby [Pavel Kireyev](https:\/\/hbr.org\/search?term=Pavel%20Kireyev) and [Peter C. Evans](https:\/\/hbr.org\/search?term=Peter%20C.%20Evans)\n\nNovember 18, 2021\n\n![](https:\/\/hbr.org\/resources\/images\/article_assets\/2021\/11\/Nov21_18_630505378-1.jpg)\n\nHBR Staff\/Andriy Onufriyenko\/Getty Images\n\n- [![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Twitter.da02b4c1.svg)Post](https:\/\/twitter.com\/intent\/tweet?&original_referer=&ref_src=twsrc%5Etfw&related=twitterapi%2Ctwitter&tw_p=tweetbutton&url=)\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Facebook.eb68f860.svg)Post\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/LinkedIn.1a0f12de.svg)Share\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Save.2badaa2e.svg)Save\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Download.363c9368.svg)Get PDF\n- [![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/BuyCopy.3dc98c2b.svg)Buy Copies](https:\/\/hbr.org\/product\/making-sense-of-the-nft-marketplace\/H06PH9-PDF-ENG)\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Print.bb0a31c0.svg)Print\n\n![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/close.b3dba8ae.svg)\n\n## Summary.\n[Leer en español](https:\/\/hbr.org\/2021\/11\/making-sense-of-the-nft-marketplace?language=es)[Ler em português](https:\/\/hbr.org\/2021\/11\/making-sense-of-the-nft-marketplace?language=pt)\n\n- [![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Twitter.da02b4c1.svg)Post](https:\/\/twitter.com\/intent\/tweet?&original_referer=&ref_src=twsrc%5Etfw&related=twitterapi%2Ctwitter&tw_p=tweetbutton&url=)\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Facebook.eb68f860.svg)Post\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/LinkedIn.1a0f12de.svg)Share\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Save.2badaa2e.svg)Save\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Download.363c9368.svg)Get PDF\n- [![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/BuyCopy.3dc98c2b.svg)Buy Copies](https:\/\/hbr.org\/product\/making-sense-of-the-nft-marketplace\/H06PH9-PDF-ENG)\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Print.bb0a31c0.svg)Print\n\n![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/close.b3dba8ae.svg)\n\nNon-fungible tokens (NFTs) may seem like a [passing craze](https:\/\/hbr.org\/podcast\/2021\/03\/the-nft-craze-and-the-future-of-spotify-and-streaming-music), but with over [\\$10 billion](https:\/\/www.cnbc.com\/2021\/10\/06\/nft-trading-volume-hit-10-billion-2-reasons-why-people-are-buying.html) traded in the third quarter of 2021 alone, it’s become clear that this emerging technology — a blockchain-based tool that enables anyone to monetize digital content — is growing into a major industry. In March of this year, musician 3LAU collaborated with crypto startup Origin Protocol to create a specialized platform to sell his new album as an NFT, where it ultimately sold for [\\$11.6 million](https:\/\/www.businessinsider.com\/nft-ultraviolet-3lau-first-ever-crypto-albums-sales-11-million-2021-3). Visual artist Beeple [famously sold](https:\/\/www.theverge.com\/2021\/3\/11\/22325054\/beeple-christies-nft-sale-cost-everydays-69-million) a tokenized digital artwork for \\$69 million through Christie’s auction house, and the NBA’s Top Shot, which is owned by crypto platform Dapper Labs and enables fans to buy and sell tokenized video clips of basketball game highlights, has generated over [\\$715 million](https:\/\/dappradar.com\/flow\/collectibles\/nba-topshot) in transaction volume.\n\n[Pavel Kireyev](https:\/\/hbr.org\/search?term=Pavel%20Kireyev&amp;search_type=search-all)  is an Assistant Professor of Marketing at INSEAD.\n\n[Peter C. Evans](https:\/\/hbr.org\/search?term=Peter%20C.%20Evans&amp;search_type=search-all)  is the Managing Partner at the Platform Strategy Institute, Chief Platform Officer of RCRDSHP and co-Chair of the MIT Platform Strategy Summit.\n\n- [![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Twitter.da02b4c1.svg)Post](https:\/\/twitter.com\/intent\/tweet?&original_referer=&ref_src=twsrc%5Etfw&related=twitterapi%2Ctwitter&tw_p=tweetbutton&url=)\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Facebook.eb68f860.svg)Post\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/LinkedIn.1a0f12de.svg)Share\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Save.2badaa2e.svg)Save\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Download.363c9368.svg)Get PDF\n- [![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/BuyCopy.3dc98c2b.svg)Buy Copies](https:\/\/hbr.org\/product\/making-sense-of-the-nft-marketplace\/H06PH9-PDF-ENG)\n- ![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/Print.bb0a31c0.svg)Print\n\n![](https:\/\/hbr.org\/assets-mfe-articles\/_next\/static\/media\/close.b3dba8ae.svg)\n\nRead more on [**Strategy**](https:\/\/hbr.org\/topic\/subject\/strategy?ab=articlepage-topic) or related topics [**Business models**](https:\/\/hbr.org\/topic\/subject\/business-models?ab=articlepage-topic), [**Growth strategy**](https:\/\/hbr.org\/topic\/subject\/growth-strategy?ab=articlepage-topic), [**Technology and analytics**](https:\/\/hbr.org\/topic\/subject\/technology-and-analytics?ab=articlepage-topic), [**Blockchain**](https:\/\/hbr.org\/topic\/subject\/blockchain?ab=articlepage-topic), [**Online communities**](https:\/\/hbr.org\/topic\/subject\/online-communities?ab=articlepage-topic), [**Media industry**](https:\/\/hbr.org\/topic\/industry\/media-industry?ab=articlepage-topic) and [**Professional 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Publishing. All rights reserved. Harvard Business Publishing is an affiliate of Harvard Business School.","attrs_readable_markdown":"November 18, 2021\n\n![](https:\/\/hbr.org\/resources\/images\/article_assets\/2021\/11\/Nov21_18_630505378-1.jpg)\n\nHBR Staff\/Andriy Onufriyenko\/Getty Images\n\nNon-fungible tokens (NFTs) may seem like a [passing craze](https:\/\/hbr.org\/podcast\/2021\/03\/the-nft-craze-and-the-future-of-spotify-and-streaming-music), but with over [\\$10 billion](https:\/\/www.cnbc.com\/2021\/10\/06\/nft-trading-volume-hit-10-billion-2-reasons-why-people-are-buying.html) traded in the third quarter of 2021 alone, it’s become clear that this emerging technology — a blockchain-based tool that enables anyone to monetize digital content — is growing into a major industry. In March of this year, musician 3LAU collaborated with crypto startup Origin Protocol to create a specialized platform to sell his new album as an NFT, where it ultimately sold for [\\$11.6 million](https:\/\/www.businessinsider.com\/nft-ultraviolet-3lau-first-ever-crypto-albums-sales-11-million-2021-3). Visual artist Beeple [famously sold](https:\/\/www.theverge.com\/2021\/3\/11\/22325054\/beeple-christies-nft-sale-cost-everydays-69-million) a tokenized digital artwork for \\$69 million through Christie’s auction house, and the NBA’s Top Shot, which is owned by crypto platform Dapper Labs and enables fans to buy and sell tokenized video clips of basketball game highlights, has generated over [\\$715 million](https:\/\/dappradar.com\/flow\/collectibles\/nba-topshot) in transaction volume.","meta_canonical":null}

3. Robots.txt Check

Query:

Response:

4. Spam/Ban Check

Query:

Response:

5. Seen Status Check

ℹ️ Skipped - page is already crawled

📄

INDEXABLE

✅

CRAWLED

12 hours ago

🤖

ROBOTS ALLOWED

Page Info Filters

Filter	Status	Condition	Details
HTTP status	PASS	`download_http_code = 200`	HTTP 200
Age cutoff	PASS	`download_stamp > now() - 6 MONTH`	0 months ago
History drop	PASS	`isNull(history_drop_reason)`	No drop reason
Spam/ban	PASS	`fh_dont_index != 1 AND ml_spam_score = 0`	ml_spam_score=0
Canonical	PASS	`meta_canonical IS NULL OR = '' OR = src_unparsed`	Not set

Page Details

Property	Value
URL	https://hbr.org/2021/11/making-sense-of-the-nft-marketplace
Last Crawled	2026-04-16 08:22:39 (12 hours ago)
First Indexed	2021-11-18 15:19:27 (4 years ago)
HTTP Status Code	200
Meta Title	Making Sense of the NFT Marketplace
Meta Description	NFTs, or non-fungible tokens, have become a major industry. But as with most emerging technologies, there are many competing platforms and approaches to growth, and it’s not always obvious which is the best fit for a given business. In this piece, the authors first argue that NFT platforms fall on a spectrum from streamlined (lower-cost, more-generic services) to augmented (higher-cost, more-specialized services), and that content creators should focus on those key differences when determining which platform to work with. They offer several examples to provide some inspiration to NFT industry newcomers, illustrating the wide variety of ways in which NFT platforms can add value to both buyers and sellers. Next, the authors suggest that unlike traditional market platforms such as Amazon, we’re unlikely to see a single victor emerge, both because of the fundamental openness of publicly-accessible blockchain technology, and because of the significant value offered by a variety of custom services. As such, the authors advise that both firms and individual creators should evaluate how the many options currently available and align with their unique business needs, and if a particular platform or strategy seems like a good opportunity, they should go ahead and give it a try.
Meta Canonical	null
Boilerpipe Text	Harvard Business Review Logo November 18, 2021 HBR Staff/Andriy Onufriyenko/Getty Images Non-fungible tokens (NFTs) may seem like a passing craze , but with over $10 billion traded in the third quarter of 2021 alone, it’s become clear that this emerging technology — a blockchain-based tool that enables anyone to monetize digital content — is growing into a major industry. In March of this year, musician 3LAU collaborated with crypto startup Origin Protocol to create a specialized platform to sell his new album as an NFT, where it ultimately sold for $11.6 million . Visual artist Beeple famously sold a tokenized digital artwork for $69 million through Christie’s auction house, and the NBA’s Top Shot, which is owned by crypto platform Dapper Labs and enables fans to buy and sell tokenized video clips of basketball game highlights, has generated over $715 million in transaction volume.
Markdown	[SKIP TO CONTENT](https://hbr.org/2021/11/making-sense-of-the-nft-marketplace#main) [Strategy](https://hbr.org/topic/subject/strategy)\\|Making Sense of the NFT Marketplace [Subscribe](https://hbr.org/subscriptions?ab=topbar-subtout&tpcc=houseads.site.topbar-subtout) Sign In - [Latest](https://hbr.org/the-latest) - [Magazine](https://hbr.org/magazine) - [Topics](https://hbr.org/topics) - [Podcasts](https://hbr.org/podcasts) - [Store](https://hbr.org/store) - [Reading Lists](https://hbr.org/reading-lists) - [Data & Visuals](https://hbr.org/data-visuals) - [Case Selections](https://hbr.org/case-selections) - [HBR Executive](https://hbr.org/executive) - [Latest](https://hbr.org/the-latest) - [Podcasts](https://hbr.org/podcasts) - [The Magazine](https://hbr.org/magazine) - [Store](https://hbr.org/store) - [Webinars](https://hbr.org/webinars) - [Newsletters](https://hbr.org/email-newsletters) - [All Topics](https://hbr.org/topics) - [Reading Lists](https://hbr.org/reading-lists) - [Data & Visuals](https://hbr.org/data-visuals) - [Case Selections](https://hbr.org/case-selections) - [HBR Executive](https://hbr.org/executive) - [My Library](https://hbr.org/my-library) - [Account Settings](https://hbr.org/my-library/settings) - Sign In ## Explore HBR - [Latest](https://hbr.org/the-latest) - [The Magazine](https://hbr.org/magazine) - [Podcasts](https://hbr.org/podcasts) - [Store](https://hbr.org/store) - [Webinars](https://hbr.org/webinars) - [Newsletters](https://hbr.org/email-newsletters) ## Popular Topics - [Managing Yourself](https://hbr.org/topic/managing-yourself) - [Leadership](https://hbr.org/topic/leadership) - [Strategy](https://hbr.org/topic/strategy) - [Managing Teams](https://hbr.org/topic/managing-people) - [Gender](https://hbr.org/topic/gender) - [Innovation](https://hbr.org/topic/innovation) - [Work-life Balance](https://hbr.org/topic/work-life-balance) - [All Topics](https://hbr.org/topics) ## For Subscribers - [Reading Lists](https://hbr.org/reading-lists) - [Data & Visuals](https://hbr.org/data-visuals) - [Case Selections](https://hbr.org/case-selections) - [HBR Executive](https://hbr.org/executive) - [Subscribe](https://hbr.org/subscriptions?ab=leftnav-subtout&tpcc=houseads.site.leftnav-subtout) ## My Account - [My Library](https://hbr.org/my-library) - [Topic Feeds](https://hbr.org/my-library/topics) - [Orders](https://hbr.org/my-library/orders) - [Account Settings](https://hbr.org/my-library/settings) - [Email Preferences](https://hbr.org/my-library/preferences) - Sign In [Strategy](https://hbr.org/topic/subject/strategy) # Making Sense of the NFT Marketplace by [Pavel Kireyev](https://hbr.org/search?term=Pavel%20Kireyev) and [Peter C. Evans](https://hbr.org/search?term=Peter%20C.%20Evans) November 18, 2021 ![](https://hbr.org/resources/images/article_assets/2021/11/Nov21_18_630505378-1.jpg) HBR Staff/Andriy Onufriyenko/Getty Images - [![](https://hbr.org/assets-mfe-articles/_next/static/media/Twitter.da02b4c1.svg)Post](https://twitter.com/intent/tweet?&original_referer=&ref_src=twsrc%5Etfw&related=twitterapi%2Ctwitter&tw_p=tweetbutton&url=) - ![](https://hbr.org/assets-mfe-articles/_next/static/media/Facebook.eb68f860.svg)Post - ![](https://hbr.org/assets-mfe-articles/_next/static/media/LinkedIn.1a0f12de.svg)Share - ![](https://hbr.org/assets-mfe-articles/_next/static/media/Save.2badaa2e.svg)Save - ![](https://hbr.org/assets-mfe-articles/_next/static/media/Download.363c9368.svg)Get PDF - [![](https://hbr.org/assets-mfe-articles/_next/static/media/BuyCopy.3dc98c2b.svg)Buy Copies](https://hbr.org/product/making-sense-of-the-nft-marketplace/H06PH9-PDF-ENG) - ![](https://hbr.org/assets-mfe-articles/_next/static/media/Print.bb0a31c0.svg)Print ![](https://hbr.org/assets-mfe-articles/_next/static/media/close.b3dba8ae.svg) ## Summary. [Leer en español](https://hbr.org/2021/11/making-sense-of-the-nft-marketplace?language=es)[Ler em português](https://hbr.org/2021/11/making-sense-of-the-nft-marketplace?language=pt) - [![](https://hbr.org/assets-mfe-articles/_next/static/media/Twitter.da02b4c1.svg)Post](https://twitter.com/intent/tweet?&original_referer=&ref_src=twsrc%5Etfw&related=twitterapi%2Ctwitter&tw_p=tweetbutton&url=) - ![](https://hbr.org/assets-mfe-articles/_next/static/media/Facebook.eb68f860.svg)Post - ![](https://hbr.org/assets-mfe-articles/_next/static/media/LinkedIn.1a0f12de.svg)Share - ![](https://hbr.org/assets-mfe-articles/_next/static/media/Save.2badaa2e.svg)Save - ![](https://hbr.org/assets-mfe-articles/_next/static/media/Download.363c9368.svg)Get PDF - [![](https://hbr.org/assets-mfe-articles/_next/static/media/BuyCopy.3dc98c2b.svg)Buy Copies](https://hbr.org/product/making-sense-of-the-nft-marketplace/H06PH9-PDF-ENG) - ![](https://hbr.org/assets-mfe-articles/_next/static/media/Print.bb0a31c0.svg)Print ![](https://hbr.org/assets-mfe-articles/_next/static/media/close.b3dba8ae.svg) Non-fungible tokens (NFTs) may seem like a [passing craze](https://hbr.org/podcast/2021/03/the-nft-craze-and-the-future-of-spotify-and-streaming-music), but with over [\$10 billion](https://www.cnbc.com/2021/10/06/nft-trading-volume-hit-10-billion-2-reasons-why-people-are-buying.html) traded in the third quarter of 2021 alone, it’s become clear that this emerging technology — a blockchain-based tool that enables anyone to monetize digital content — is growing into a major industry. In March of this year, musician 3LAU collaborated with crypto startup Origin Protocol to create a specialized platform to sell his new album as an NFT, where it ultimately sold for [\$11.6 million](https://www.businessinsider.com/nft-ultraviolet-3lau-first-ever-crypto-albums-sales-11-million-2021-3). Visual artist Beeple [famously sold](https://www.theverge.com/2021/3/11/22325054/beeple-christies-nft-sale-cost-everydays-69-million) a tokenized digital artwork for \$69 million through Christie’s auction house, and the NBA’s Top Shot, which is owned by crypto platform Dapper Labs and enables fans to buy and sell tokenized video clips of basketball game highlights, has generated over [\$715 million](https://dappradar.com/flow/collectibles/nba-topshot) in transaction volume. [Pavel Kireyev](https://hbr.org/search?term=Pavel%20Kireyev&search_type=search-all) is an Assistant Professor of Marketing at INSEAD. [Peter C. Evans](https://hbr.org/search?term=Peter%20C.%20Evans&search_type=search-all) is the Managing Partner at the Platform Strategy Institute, Chief Platform Officer of RCRDSHP and co-Chair of the MIT Platform Strategy Summit. - [![](https://hbr.org/assets-mfe-articles/_next/static/media/Twitter.da02b4c1.svg)Post](https://twitter.com/intent/tweet?&original_referer=&ref_src=twsrc%5Etfw&related=twitterapi%2Ctwitter&tw_p=tweetbutton&url=) - ![](https://hbr.org/assets-mfe-articles/_next/static/media/Facebook.eb68f860.svg)Post - ![](https://hbr.org/assets-mfe-articles/_next/static/media/LinkedIn.1a0f12de.svg)Share - ![](https://hbr.org/assets-mfe-articles/_next/static/media/Save.2badaa2e.svg)Save - ![](https://hbr.org/assets-mfe-articles/_next/static/media/Download.363c9368.svg)Get PDF - [![](https://hbr.org/assets-mfe-articles/_next/static/media/BuyCopy.3dc98c2b.svg)Buy Copies](https://hbr.org/product/making-sense-of-the-nft-marketplace/H06PH9-PDF-ENG) - ![](https://hbr.org/assets-mfe-articles/_next/static/media/Print.bb0a31c0.svg)Print ![](https://hbr.org/assets-mfe-articles/_next/static/media/close.b3dba8ae.svg) Read more on [Strategy](https://hbr.org/topic/subject/strategy?ab=articlepage-topic) or related topics [Business models](https://hbr.org/topic/subject/business-models?ab=articlepage-topic), [Growth strategy](https://hbr.org/topic/subject/growth-strategy?ab=articlepage-topic), [Technology and analytics](https://hbr.org/topic/subject/technology-and-analytics?ab=articlepage-topic), [Blockchain](https://hbr.org/topic/subject/blockchain?ab=articlepage-topic), [Online communities](https://hbr.org/topic/subject/online-communities?ab=articlepage-topic), [Media industry](https://hbr.org/topic/industry/media-industry?ab=articlepage-topic) and [Professional sports industry](https://hbr.org/topic/industry/professional-sports-industry?ab=articlepage-topic) ## Partner Center [Start my subscription\!](https://hbr.org/subscriptions?ab=footer-subtout&tpcc=houseads.site.footer-subtout) Explore HBR - 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Readable Markdown	November 18, 2021 ![](https://hbr.org/resources/images/article_assets/2021/11/Nov21_18_630505378-1.jpg) HBR Staff/Andriy Onufriyenko/Getty Images Non-fungible tokens (NFTs) may seem like a [passing craze](https://hbr.org/podcast/2021/03/the-nft-craze-and-the-future-of-spotify-and-streaming-music), but with over [\$10 billion](https://www.cnbc.com/2021/10/06/nft-trading-volume-hit-10-billion-2-reasons-why-people-are-buying.html) traded in the third quarter of 2021 alone, it’s become clear that this emerging technology — a blockchain-based tool that enables anyone to monetize digital content — is growing into a major industry. In March of this year, musician 3LAU collaborated with crypto startup Origin Protocol to create a specialized platform to sell his new album as an NFT, where it ultimately sold for [\$11.6 million](https://www.businessinsider.com/nft-ultraviolet-3lau-first-ever-crypto-albums-sales-11-million-2021-3). Visual artist Beeple [famously sold](https://www.theverge.com/2021/3/11/22325054/beeple-christies-nft-sale-cost-everydays-69-million) a tokenized digital artwork for \$69 million through Christie’s auction house, and the NBA’s Top Shot, which is owned by crypto platform Dapper Labs and enables fans to buy and sell tokenized video clips of basketball game highlights, has generated over [\$715 million](https://dappradar.com/flow/collectibles/nba-topshot) in transaction volume.
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