3 ms·
“ Say you bought the beeple. Beeple didn't give up the right to sell the exact same thing to someone else, and remains perpetually able to debase your investmen
by berberous 6y ago
“ Say you bought the beeple. Beeple didn't give up the right to sell the exact same thing to someone else, and remains perpetually able to debase your investment at their sole discretion.”
I continue to be amazed you don’t see that this also applies to real art, especially now that many artists are using digital processes or photographic ones. The artist says a series will be limited — that’s all. That has weight in the real world and in NFTs because artists have reputations; in both instances, you are trusting them not to debase their work by printing more.
- arcticbull 6y agoNFTs aren't art they're certificates of authenticity. The art can be infinitely duplicated with cmd-C cmd-V. However, yes, this is a characteristic of prints. Which is why few insure them, nobody fractionalizes them, very few lend against them and certainly not in an automated no questions asked way. Because there's no way to ascertain their value. Which is also why they're used for money laundering. Money laundering, except digital, isn't a great slogan.