3 ms·
Buying these NFTs is more like buying your name on some dedication plaque no one will read unless directed to do so; people do this, sometimes with millions of
by saurik 6y ago
Buying these NFTs is more like buying your name on some dedication plaque no one will read unless directed to do so; people do this, sometimes with millions of dollars, because it is, in fact, a "cool story" vs. merely sending an anonymous envelope of cash to the owners of the building (maybe a University or local government).
- kibwen 6y agoIt's quite a bit different, since your donation doesn't imply ownership of the plaque (or even of anything built by the donation). The non-fungibility of the plaque is irrelevant because you don't own it, and therefore can't resell it, and therefore can't expect it to appreciate in value, and therefore nothing approaching a pyramid scheme is possible.
- saurik 6y agoI appreciate it isn't exactly like (hence why I merely said "more like" ;P). I think people are way too focused on the idea of the value of these NFTs going up in value: most of the discussion about why they are actually valuable in the relevant communities is merely as an alternative to Patreon-style interactions. (And so like, I totally agree that a lot of scams are being built over them: I am just defending why the "cool story" part actually is worth real value to some people.)
- kibwen 6y agoYes, I could have been more clear: I was trying to suggest that if someone wants to give money to an artist in the form of a Patreon-style interaction, then they can just... donate. :P It's clear to me that the hype is precisely because people want their tokens to appreciate in value; you can design a non-transferable-token if you want to give patrons the "cool story" without muddying the waters with pseudo-investment shenanigans (of course, I suppose at this point there's nothing stopping anyone from issuing an NFT on your NTTs, sigh...).
- Yizahi 6y agoMore like you are buying a unique business card with an address of building where dedication plaque is located. (a .json file with a hyperlink) Not only it's mostly useless since anyone can print the same address anywhere they want, but also it WILL become literally useless when that address changes.