After the Federal Reserve and federal government flooded the economy with trillions of dollars, we began to notice how blue-chip sports cards, or better yet, rare video games, were possibly better investments than blue-chip stocks, at least over the last decade.
According to AFP, on Friday, a sealed video game cartridge of The Legend of Zelda for the old Nintendo Entertainment System sold for a "world record" sum at auction.
Auction house Heritage Auctions sold the unopened fantasy action-adventure video game for a whopping $870,000, surpassing the record for a video game sold in April by $210,000, when a 1986 Super Mario Bros. cartridge sold for $660,000.
Heritage Auctions' Eric Bradley called the video game a "masterpiece." He did reveal the buyer as they wanted to remain anonymous.
Last year, a copy of Super Mario Bros. was bought at auction for $114,000 and set a new record for the most ever paid for a video game back then. One year later, the high demand for old-school consoles and cartridges is driving up prices, and it's only a matter of time before a video game is sold for a million-plus.
With virtually every asset continuing to hyperinflate, we wonder if a change in Fed policy (maybe at J-Hole later this summer), such as tapering the balance sheet, would damper the market for these hot commodities.