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I believe it really boils down to consensus. If enough entities in a community "accepts" some platform/publisher as valid, those collectibles created by those e

I believe it really boils down to consensus. If enough entities in a community "accepts" some platform/publisher as valid, those collectibles created by those entities (which can easily be validated on the chain) will have subjective value. Just like money: it's a piece of paper but enough people/companies/governments legally accept it so that paper now has a value more than it's physical components. I can print money too but it will be fake and worthless, even if I print it on a more expensive paper. An NFT is just some bits on a blockchain after all, but when enough people accept those "bits" by a particular entity, they are worth something. Sure anyone can clone/copy paste those JPEGs and mint them just as I can print dollars on my home printer, but as long as they aren't issued by an entity that many trust (e.g. A legally accepted central bank) they are worthless. Which in this case community is free to choose their central bank and currency, and change if they have the interest, creating a whole new economic system.

ostenning 5y ago
Consensus needs realistic price evaluations otherwise NFTs and most of crypto will remain what it actually is: a pump and dump asset class.
- can16358p 5y ago
  Currently the "value" is determined by hype and speculation. The more NFT (or whatever replaces that idealogically) is accepted into the society, the more "real" uses it will have and whatever real (non-pump-and-dump-JPEGs) use it has will stabilize its value when the hype ends.
thinkingemote 5y ago
Exactly if people don't value it , it has no value. So it's fundamental to shill, promote and evangelise and maybe stretch the truth for NFTs for it to succeed. To not do so endangers the hype and your own investment. If people don't believe it, it has no value. Money was a token that has direct exchange value. You don't really need to promote it to give it value.

ostenning 5y ago

Consensus needs realistic price evaluations otherwise NFTs and most of crypto will remain what it actually is: a pump and dump asset class.

can16358p 5y ago
Currently the "value" is determined by hype and speculation. The more NFT (or whatever replaces that idealogically) is accepted into the society, the more "real" uses it will have and whatever real (non-pump-and-dump-JPEGs) use it has will stabilize its value when the hype ends.

thinkingemote 5y ago

Exactly if people don't value it , it has no value. So it's fundamental to shill, promote and evangelise and maybe stretch the truth for NFTs for it to succeed. To not do so endangers the hype and your own investment. If people don't believe it, it has no value. Money was a token that has direct exchange value. You don't really need to promote it to give it value.