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I seriously doubt that the high-end NFT economy is sustainable in the long term. The people who are buying these are just burning money.
by beforeolives 5y ago
I seriously doubt that the high-end NFT economy is sustainable in the long term. The people who are buying these are just burning money.
- AlexandrB 5y agoI'm curious what will happen when an NFT for the same piece of art gets sold on multiple blockchains. Now you can "own" a "Charlie Bit My Finger" NFT on Ethereum and someone else owns it on the FooBar blockchain. Which one is "authentic"? Blockchain doesn't help you here - you're going to have to go to court to prove you own the "authentic" one or sue the artist for selling 2 copies instead of one.
- miracle2k 5y agoThe artist can mint two copies on the same blockchain, no problem. It's a digital print.
- anonyxyz 5y agoThis would tarnish their reputation
- underwater 5y agoHow is that different from reality? You might buy a piece of artwork from famous artist X, but society and the market decide that art by Y is also valuable. You might buy a painting because we all agree that paintings are valuable. But what's to stop framed original poetry, or sculptures, or photographs, becoming more valued and supplanting paintings as the preferred form of desirable art.
- acuozzo 5y ago> The people who are buying these are just burning^H^H^H^H^H^H^Hlaundering money. FTFY