Marketplace suspends most NFT sales, citing 'rampant' fakes and plagiarism

FILE PHOTO: Cameron Hejazi, CEO and co-founder of the NFT marketplace Cent reacts in this handout photo in Chicago, Illinois, U.S., July 2021. Handout via REUTERS

LONDON (Reuters) -The platform which sold an NFT of Jack Dorsey's first tweet for $2.9 million has halted most transactions because people were selling tokens of content that did not belong to them, its founder said, calling this a "fundamental problem" in the fast-growing digital assets market.

Sales of NFTs, or non-fungible tokens, soared to around $25 billion in 2021 https://www.reuters.com/markets/europe/nft-sales-hit-25-billion-2021-growth-shows-signs-slowing-2022-01-10, leaving many baffled as to why so much money is being spent on items that do not physically exist and which anyone can view online for free.