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> While NFTs are not sure proof of a physical Birkin bag's authenticity, they all but ruin the economic incentives of counterfeiting. One exception to this: if
by paulgb 5y ago
> While NFTs are not sure proof of a physical Birkin bag's authenticity, they all but ruin the economic incentives of counterfeiting.
One exception to this: if I want a Birkin bag, not to sell but for myself, and I want it to be authentic, I can buy a real bag and a fake bag, and sell the fake bag with the certificate of authenticity. I don't have to worry about diminishing the retail value, since the bag is for my own enjoyment.
- codetrotter 5y agoLikewise if you have a real bag and a certificate of authenticity but then the bag is ruined and you didn’t have insurance, or bad coverage on the insurance, you can buy a fake bag and resell the fake bag with the certificate of authenticity for less than the cost of a new authentic bag while still lowering the amount of money that you lose out on had you discarded the certificate when the authentic bag was ruined.
- mlac 5y agoBoth these posts make sense, but I’d be curious if this will slow the market for fake bags, making it more difficult to source a quality bag. Probably not - in reality, are people going to say “nice bag - let me see your NFT”. I’d think it equivalent to asking for a receipt from the birken store…
- bradleyjg 5y agoI could definitely see certain people going home from a party and looking up whether so-and-so’s bag was real. I don’t think it’s going to take off but that part seems plausible.
- bruce343434 5y agoIt seems insane.
- bradleyjg 5y ago¯\_(ツ)_/¯ We are living in the timeline with millionaire Instagram influencers.
- bruce343434 5y agoBefore that we lived in a time where that role was delegated to [famous] people on tv that appeared in ads. Really nothing fundamental changed. It just morphed.
- illwrks 5y agoI remember several year ago when people kept the tags on their clothes when they wore them, it was almost a statement that 'this' is authentic. I could absolutely see how this could bleed over into the digital world where you have a sort of MySpace page for the things you own, just for bragging rights.
- minitoar 5y agoThis is literally the [Mad] Hatter’s costume (1865). <https://en.wikipedia.org/wiki/Hatter_(Alice's_Adventures_in_Wonderland) https://en.wikipedia.org/wiki/Hatter_(Alice's_Adventures_in_...>
- TigeriusKirk 5y agoPaying $10,000 (and waaay up) for purse seems insane. And yet...
- analog31 5y agoIndeed, and you could also sell the certificate without the bag, at a discount. For instance, you could buy the bag and certificate for $100, and sell the certificate for $50 to someone who wants it for a fake bag. In fact the only distinction a real and fake bag is that the maker was somehow peripherally involved in the supply chain for the real one, for instance ordering it from a manufacturer and having it drop shipped to a retailer. In fact I would want to unload my certificate before the proliferation of fakes lowered its value.
- retube 5y agoAbsolutely. And actually I think is the major flaw in his argument - NFTs effectively allow you to buy a real birkin for the price of a fake!! And that WILL be exploited, probably heavily.
- gweinberg 5y agoJust make sure not to buy a bag from someone else who thinks like you do. Or maybe just don't ask yourself if that might have happened. You'll have the pleasure of "knowing" you have a "real" bag despite lacking the cert, and you're not even ripping anyone off, since the girl you sold the "fake" bag to will also "know" she has a "real" bag.