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This is what happens whenever you see a large amount associated with an NFT. I bet that the art market started like that.
by baby 5y ago
This is what happens whenever you see a large amount associated with an NFT. I bet that the art market started like that.
- meheleventyone 5y agoWash trading was a pretty common scam in loads of markets until it was regulated.
- rvba 5y agoArt market started because people appreciate art. In fact rich people even commissioned art for hundreds, if not thousands of years. It can be used for various scams and as an investment, but the whole premise is ridicolous: people pay for art since they like it and want to own it. (And in this NFT scam they dont own anything useful)
- baby 5y agoI disagree. Art was never expensive, and artists are known to make little money until their death. Price of selective art really went through the roof for no reason other than creating a market to make money.
- deleted 5y ago[deleted]
- jazzyjackson 5y agopatrons pay for art because they want the art to be made, owning it is a side effect (indeed much art is loaned right back out to galleries, the possession is not the point, the creation is)