The world of NFTs is bizarre, confounding and exhilarating. Detractors see a space full of capital-obsessed hucksters who want to choke all of the lasting value from popular culture while boosters see a new technological revolution that can transform how value from online media is actually created and captured.
This past year, institutional investors have seemed to grow obsessed with NFT opportunities — a space few of them examined seriously before 2021 — dropping billions of dollars into equity investments in startups including Dapper Labs, OpenSea and Sky Mavis.
Investors’ latest NFT bet is on a startup called Pixel Vault — a massive NFT collection of superheroes that has the goal of growing into a dece …
