People value the Mona Lisa over time because it is beautiful, many people want to see it, and therefore it has use-value. Pet rocks like this have zero interest

People value the Mona Lisa over time because it is beautiful, many people want to see it, and therefore it has use-value. Pet rocks like this have zero interest or beauty, still less the digital receipt attached to them by an NFT: https://twitter.com/etherrockprice/status/1431641800431714313 https://twitter.com/etherrockprice/status/143164180043171431... They'll be remembered as an interesting footnote to the everything bubble that we're now seeing due to massive production of USD and other currencies. As the currencies devalue, asset prices (and later consumer prices and wage prices) rise in concert and all sorts of scams proliferate as people try to cash in - I'd count most NFTs as part of those scams - scam artists painting the tape and purchasing nominally worthless items at inflated prices, in the hope of drawing in other suckers who want to get rich quick and selling the worthless assets to them. I don't think they have long term value, the concept is not useful because there is no jurisdiction and no enforcement, NFTs and the digital art associated have far more in common with tulip bulbs or beanie babies than works of art, and as with beanie babies, they'll crash when other assets associated with them crash, but not before a mania which has everyone questioning whether they truly are worth what people say they are worth, and not before a lot of people lose an awful lot of money. https://www.wbur.org/hereandnow/2015/03/02/beanie-baby-bubble https://www.wbur.org/hereandnow/2015/03/02/beanie-baby-bubbl...