Nicole Buffett, the granddaughter of billionaire Warren Buffett, recently told Institutional Investor that her collection of non-fungible tokens (NFTs) had been nearly sold out in just a couple of months.
The progeny of the legendary business magnate says that Ether is the currency of the NFT space, while competitors of the likes of Cardano and Solana are attempting to challenge Ethereum’s dominance in the sector.
Buffett says that she accepts the greenback only for physical art:
I will help people get set up so they can buy art on the blockchain, but the currency of the NFT space is Ethereum. I do still take dollars for physicals.
Warren Buffett is known as one of the harshest cryptocurrency critics who famously called Bitcoin “rat poison squared.”His granddaughter claims that investing in art is no different from investing in stocks or bonds:
My grandfather will look at something and ask, ‘Does it have integrity? Does it have sustaining value? What are the components; can you break them down?... Art is very much like that.
When it comes to pricing, Buffett says she wants her NFTs to remain affordable.
Most of Buffett’s buyers have no idea about her ties to one of the richest families in America before the actual transaction takes place.