4 ms·

I think placing the value of baseball cards on the fact that they are made out of cardboard is mostly trying to rationalize a preconceived notion that baseball

I think placing the value of baseball cards on the fact that they are made out of cardboard is mostly trying to rationalize a preconceived notion that baseball cards make sense whereas NFTs don't. But even then, similar dynamics to the one you mention also apply in the NFT world: people lose the keys to their wallets. In that sense, the NFT completely degraded. This will probably happen to many NFTs as has happened to a significant amount of bitcoins.

houseofzeus 5y ago
This is about where I got to when pondering this with regards to NBA Top Shot: 1. Is it irrational to pay large sums of money to collect NFTs? Yes. 2. Is it irrational to pay large sums of money to collect physical cards? Also yes. Regardless, we humans are weird and will do it anyway.