3 ms·
Isn't the whole NFT a piramide scheme where "Auction" platforms incentivize artist A and B to buy each other arts (while taking a cut) in the hope it will boost
by brodock 6y ago
Isn't the whole NFT a piramide scheme where "Auction" platforms incentivize artist A and B to buy each other arts (while taking a cut) in the hope it will boost "fame" and have someone unadvised of the deal think it's worth anything?
- headmelted 6y agoI don’t want to inflame the wrath of anyone by expressing an opinion on that, but it’s probably worth seperating two things: 1) The concept of NFTs - essentially a tradeable hash that infers rights to digital content. 2) What that digital content is and what its being used for currently. I can easily believe (1) has some very real use cases. Off the top of my head - game publishers could sell seat licenses direct to consumers - essentially digital games that you can trade-in when finished. Not sure if they’d want to as the status quo involves them getting a majority of the revenue for every player currently. As for (2) and what’s being traded currently being worth what’s being paid for it? It certainly seems like Euphoria to my eyes, but that’s one person’s opinion that could well be wrong. It’s 2021, nothing should surprise anyone at this point.