3 ms·
Do NFT's really only have value upon their first sale? Wouldn't that be basically a donation to Elon with no expectation of value on the secondary market?
by sporkologist 6y ago
Do NFT's really only have value upon their first sale? Wouldn't that be basically a donation to Elon with no expectation of value on the secondary market?
- Swizec 6y agoOtherwise known as the reason large art sales exist: Money laundering et al. It is very convenient when you get to call your money transfer "A Sale". If the thing you're buying has a publicly verifiable (albeit dubious/preposterous) market value, you aren't even committing fraud!
- Jarwain 6y agoResale of an NFT is different; since you can look up previous owners of the NFT there's a way to validate "yes this NFT is the one originally sold by Elon". The NFT has value Because it was the one Elon sold and signified as legit, versus the NFT some random person sold
- sporkologist 6y agoYeah but it's still "Elon's 2nd hand NFT"