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Not everyone. Personally I'm buying only stuff that resonates with me. I do not plan to flip it for a quick profit. In fact, my.taste is sometimes so eccentric
by bouncycastle 6y ago
Not everyone.
Personally I'm buying only stuff that resonates with me. I do not plan to flip it for a quick profit. In fact, my.taste is sometimes so eccentric that I doubt anyone else will want to buy them from me. However, I must say that owning a NFT to an artwork, gives you a stronger connection to it, even if it is digital. The artist also appreciate that you support their work.
That's the way you should go about this too. If you see anything promoted by celebrities, run, run away. Also avoid corporations caching in on it like the NBA. Only buy from Artists directly, and if you must, then trade only peer-to-peer.
- sneak 6y agoBuying an NFT from anyone other than the original artist does not support the artist in any way.
- aspenmayer 6y agoArtists are able to determine the cut of resale profits they receive, aren’t they?
- sneak 6y agoThere is nothing in ERC-721 to permit such a requirement. Centralized marketplaces for the resale of 721s (NFTs) can enforce this for sales they arrange, but there's nothing inherent to the blockchain or NFT to require it, which means that sales bypassing such centralized marketplaces would not be subject to those conventions.
- bouncycastle 6y agoOh, you're wrong. It does! That's because if the price appreciates on the 2nd market, then it gives the artist an ability to sell new works for a higher price, as there is more demand for them. Sales drive more sales. Btw. I meant, only buy NFTs that were produced directly by the artists themselves, and the artists have rights to their work. Basically, avoid middlemen. That's what crypto is for.