Nifty Gateway’s closure illustrates the limits of digital ownership. In 2021, Christie’s sold a Beeple NFT for $69.35 million and Sotheby’s sold 101 Bored Ape Yacht Club NFTs for $24.40 million. Owning a blockchain token does not mean controlling the media files associated with it, as those often depend on external servers. When a marketplace closes, someone must cover the cost of keeping artworks accessible. Buyers need to understand where their files are stored and who pays for storage, since a sale generates immediate revenue while maintenance creates ongoing costs.
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