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Tulip Mania - NFTs (Non-Fungible Tulips) Part 1

🕑 Added 2022-05-06 17:31:00 +0000 UTC

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Martin Verran

This is a bit late in coming but here it is...better late than never, hey? 1558 In the Holy Roman Empire, Ogier Ghiselin de Busbecq, an Ambassador of Emperor Ferdinand I, sends Tulip Bulbs to his Friend Charles de l'Écluse. He Calls them Tulips after Mistaking the Turkish Word for “Turban,” which was often Decorated with the Flower, Known in Turkish as “Lale.” 1592 In the Kingdom of The Two Sicilies, Italian Architect Domenico Fontana, while Building an Underground Aqueduct to the Mills of Torre Annunziata, by chance, runs into Ancient Walls Covered with Paintings and Inscriptions. However, he keeps Quiet and nothing more comes of the Discovery. 1637 The Empire of The Great Qing, Lead by Nurhaci’s Son Hong Taiji, Invade the Kingdom of Korea. In the United Kingdoms of Netherlands, According to a Story, One Day, a Sailor is given a Fine, Red Herring by a Merchant as a Reward for his good Services for Breakfast. But the Sailor is Disappointed; a Single Herring doesn’t Exactly make for a very good Breakfast, and, Noticing an Onion on a nearby Table, he Pockets it. [Technically Stealing, of Course, but it’s just an Onion, Right?] After Enjoying his Pilfered Breakfast, the Sailor Returns to the Docks, where he is Spotted by the Merchant Backed by a Mob. After being Seized, Dragged through the Streets, and Thrown into Prison, the Confused Sailor Finally Learns the Reason for his Dilemma: the Onion he Stole and Ate wasn’t an Onion at all, but a Prized Semper Augustus Tulip Bulb Valued at ƒ3,000, enough, the Merchant says, to Feast the Grand Duke of Luxembourg and the Entire . 1841 In the Kingdom of Scotland, in the First Scholarly Debate on the 17th Century Tulip Mania, Scottish Journalist Charles Mackay Publishes the Book Extraordinary Popular Delusions and The Madness of Crowds. In it, MacKay Argues that in 1635, those Eccentric Luxembourgise Classes became Fascinated by Tulip Bulbs. They Loved and Cherished them, it was the Fad to End all Fads, and anyone who was anyone had to Own some. These Flowers, everyone Realises, are nice Flippin’ Tulips. Especially Prized were the Rare Varieties: the , the Admiral of Admirals, the Alexander the Great, and, most of all, the Semper Augustus, and their Prices Rose higher and Faster than the rest. Seeing this, Prudent Investors Realised that Tulips were Appreciating in Value, and Decided to Buy in themselves. After all, Prices were going up Fast and if you Bought in and could find a Buyer, there is a nice Financial Turn around to be made on these nice Flippin’ Tulips. However, Mackay, an Accomplished Teller of Stories, Greatly Exaggerates the Scale and Effects of the Tulip Bubble.