Crypto exchange FTX, valued last week at $25 billion, recently launched an NFT marketplace by selling an image of the word "Test" for $270,000.
FTX founder and CEO Sam Bankman-Fried tells "Axios on HBO" that he doesn't quite understand the appeal, but adds that he doesn't personally appreciate many visual arts.
The NFT industry is currently dominated by OpenSea, but both FTX and rival exchange CoinBase are hoping to grab big pieces of the pie.
The bottom line: The value of NFTs is in the eye of the beholder.
