3 ms·
Honestly I don't think NFTs - as it exists - was ever a good model. I know there's a hypothetical resale mechanism, but it's fundamentally operating on a lotte
by saalweachter 5y ago
Honestly I don't think NFTs - as it exists - was ever a good model.
I know there's a hypothetical resale mechanism, but it's fundamentally operating on a lottery system - artists are buying a ticket hoping to hit it big, and that favors a self-destructive mentality.
A Patreon-like system still has an element of luck, but the steady monthly income makes it much easier for an artist to say "this is working, I should keep going" or "I guess I should start looking for a/keep my day job".
- nerdponx 5y agoIt wasn't ever meant to be a lottery. It was and remains just a way to sell ownership rights to stuff without physically transferring any stuff. The fact that a speculation market bloomed around it was just a weird circumstance.
- im_down_w_otp 5y agoWeird circumstance? It seems like an entirely predictable outcome, and as such it seems like it may very well have been the actual point. Especially since NFTs confer no actual assets or rights in anyway that matters EXCEPT for in an adjacent speculative market.