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> NFTs are not infinite. They are provably scarce. But the art itself is not scarce. In the physical realm, it's like a painting that can exactly replicate its
by curryst 6y ago
> NFTs are not infinite. They are provably scarce.
But the art itself is not scarce. In the physical realm, it's like a painting that can exactly replicate itself. The certificate of authenticity doesn't, though, and is the scarce component.
I think it's reasonable for someone to ask "if the duplicates are always exactly the same, what is the value of a certificate of authenticity? It would be drastically harder to forge a fake than it is to hit the button to make an exact copy".
It shifts the entirety of the value away from the art. The art itself is worthless. Anyone that wants a copy of the art can do so with a Google search. You have a scarce digital token proving that you are the rightful owner of a worthless piece of art.
That's why I don't see it working.
- vgel 6y agoI'm not necessarily an NFT proponent, but to be fair, you can also duplicate art in the real world. Forgeries and replicas of the Mona Lisa and other famous art exist, and are sometimes so good they fool museum curators for years. Yet, they're almost worthless compared to the original. Why?
- dwrowe 6y agoBecause they’re still “almost”. The NFT is made up of digits values that can be replicated exactly - a brush stroke or photography negative cannot.
- lottin 6y agoReproductions are not "worthless" by any stretch of the imagination. They are worth less than the original but this is easily understandable. It's because they are not the same thing. On the other hand, digital copies are exact to one another and also mass produced by a machine (a computer) and thus not having a different "story" that could set them apart.