Why are NFTs selling? And is this just a hype or is there really a future in unique art that only one can have an original of?
In: Technology
It’s definitely a hype at the moment, but the idea itself isn’t necessarily a bad one. Unique art that can only be owned by a single person works perfectly well in the physical world. The question is if it’ll work as well in the digital world as well.
I also agree, it’s stupid, but answer me this. What’s the difference between owning the original Mona Lisa or having a photo of it, or a print of it hanging on your wall?
Essentially that is the same yes?
What about a trade cards? Rare Michael Jordan cards sell for $200,000! Why pay that much when you can just print out the same card?
So, if you understand and agree that those examples have value, then the same concept applies to NFTs, and I can see them becoming a permanent thing.
What I think will really solidify them is if the owner of the NFT also has the digital copyrights ownership to selling that piece of footage or renting it etc.
That would open up a huge new and interesting market
NFTs also make a lot of sense for digital tickets, I’ve heard. But I don’t enough about NFTs to fully understand the details. Might help prevent forgeries- and curtails scalpers too somehow.
I don’t understand how there is enough people that this concept exists. Who cares that you have an original gif or video of something? I’ve seen it too and downloaded the file to my computer for free.
I think it’s mostly people who invest into the fad only for the potential to flip it to a sucker
Same reasons why real art is making money:
* people are willing to pay the price, and
* money laundering
I mean [this isn’t worth $86 million](https://en.wikipedia.org/wiki/Suprematist_Composition#/media/File:Suprematist_Composition_-_Kazimir_Malevich.jpg) but that’s what it sold for.
Latest Answers