why are NFT a thing
- Thread starter the cool
- Start date
Sbp
Superstar
NFTs are tokens that we can use to represent ownership of unique items. They let us tokenise things like art, collectibles, even real estate. They can only have one official owner at a time and they're secured by the Ethereum blockchain – no one can modify the record of ownership or copy/paste a new NFT into existence.
From Ethereum.org
From Ethereum.org
The “reason” is that they are traceable pieces of internet art. Instead of art being “copied and pasted” as you did, there are now ways to verify ownership and ownership history (just like real art)
But they aren’t really worth anything. It’s a gold rush/land grab. Buy/accumulate/create while the market is hot and cash out.
It’s just like all of the digital currencies. Buy now and sell to someone when they are on the downswing
But they aren’t really worth anything. It’s a gold rush/land grab. Buy/accumulate/create while the market is hot and cash out.
It’s just like all of the digital currencies. Buy now and sell to someone when they are on the downswing
NotAnFBIagent
[redacted]
Why do people pay exorbitant amounts for artwork
King
The black man is always targeted.
Because they can.
Also money laundering.
And people following shyt because they think they can make a quick buck.
RareHunter
All Star
To prepare ppl for digital currency and metaverse. Crypto and NFTs have no real use imo.
Basically. Folks aren’t peeping how all of our possessions are slowly becoming digital.
Rarity. Most art isn’t valuable, but some artistic pieces age well because of their demand and scarcity, but also regardless of the economy, the value of art doesn’t dip. You can’t really put a full price owning the only variation of a Picasso.
SupaDupaFresh
Superstar
Itll make more sense in a few years when VR headsets AR glasses and metaverse stuff becomes affordable for everyone (as Facebook is on the forefront of pushing right now). Thats when buying and owning digital assets will really take off. You sure wont be able to copy and paste that nor will that matter. The people investing in digital assets now are anticipating the future.
SupaDupaFresh
Superstar
Also OP, the reason that piece is so expensive is possibly because it was created by an already well known and established artist, making it a collectors item as well as an attractive work. No, its not a quick fad hustle for any jack ass with a copy of Photoshop.
Again when the day comes that decent AR glasses and VR headsets reach that $100-$200 price range and we are all interacting with each other within dynamic, photorealistic virtual reality spaces, artwork will be just the beginning of what people begin investing in.
Again when the day comes that decent AR glasses and VR headsets reach that $100-$200 price range and we are all interacting with each other within dynamic, photorealistic virtual reality spaces, artwork will be just the beginning of what people begin investing in.
I noticed your avi and was like
"No way this guy has a cryptopunk and is asking what an nft is."
Its about "community". It's a flex to see someone twitter pic is worth 100k with possibly higher resale value in a few years.
Prestige, bragging and joining a club.
It's also trading/collection culture.
"No way this guy has a cryptopunk and is asking what an nft is."
Its about "community". It's a flex to see someone twitter pic is worth 100k with possibly higher resale value in a few years.
Prestige, bragging and joining a club.
It's also trading/collection culture.
