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NFTs are all about status. Same reason people will pay $100 for a Supreme T-shirt, when the same plain white tee sells for $10.
by tfang17 6y ago
NFTs are all about status.
Same reason people will pay $100 for a Supreme T-shirt, when the same plain white tee sells for $10.
- mc32 6y agoStatus on the surface, potential bonanza of money laundering under the belly.
- tfang17 6y agoSame thing can be said about any high-end good :)
- mc32 6y agoI believe high end goods require more participants in the conspiracy to give cover of validity. A 70MM Picasso needs verification, appraisers, art gatekeepers, insurers, etc., to agree on the preposterous valuations. Here it’s two entities; you and your confederate.
- cblconfederate 6y agoBut status is usually allocated by people or organizations with higher status. The blockchain has no personality, its hard to legitimize gaining status that way. It s like saying "i paid god $69M and now i have status". I just can't see it Catching up with the general population (although crypto maniacs are delighted)