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The specific representation (the part that has value) is protected by elliptic curve cryptography. Your point of supply, demand and time is a good one. The sup
by qqii 6y ago
The specific representation (the part that has value) is protected by elliptic curve cryptography.
Your point of supply, demand and time is a good one. The supply and costs to creating an NFT is low, but the demands for NFTs in general are also low.
Popular NFTs have low supply as they are created by popular individuals, of which there are few. The demand for these NFTs are high for a numerous reasons including but not limited to speculation and investors simply having excess capital.
From a technical perspective there is no limit to how many NFTs a popular artist could create but unless they are unique there isn't demand.
Like anything, making money by creating NFTs is non trivial whilst only the successful outlines are reported.
- creshal 6y ago> The specific representation (the part that has value) is protected by elliptic curve cryptography. I don't think calling this "protected" is reasonable. You have some very weak guarantees that apply to one particular NFT platform, but this doesn't include being protected against fraud by the platform operators themselves, who can run a 51% attack whenever they want. (And in case of Ethereum, have demonstrated their willingness of doing so whenever smart contract results prove to be inconvenient to investors.) What do you gain over running a digital auction house on a RasPi? It'll be a lot cheaper to operate and is at no risk of having its underlying platform banned from multiple countries.