4 ms·
> With NFTs the artist needing money can and will mint the exact same JPG undercutting all the fools who bought the previous NFT. People will still be able to
by codetrotter 5y ago
> With NFTs the artist needing money can and will mint the exact same JPG undercutting all the fools who bought the previous NFT.
People will still be able to ascribe meaning to which NFT was minted when. So an earlier minted NFT may be more valuable to some than those that were minted later.
Just like when Banksy “destroyed” that piece by shredding it half way, the “destruction” actually worked to increase the value of the piece. In the same way, conceivably, a first batch of NFTs that supposedly should lose value after the artist starts minting a bunch more, could turn out to instead increase in value, because of their history of having been minted and sold before the event of the artist minting a bunch more.
- GDC7 5y ago> So an earlier minted NFT may be more valuable to some than those that were minted later Are dollars printed during the 2008 recession more valuable than those printed during the 2020 recession? > In the same way, conceivably, a first batch of NFTs that supposedly should lose value after the artist starts minting a bunch more, could turn out to instead increase in value, because of their history of having been minted and sold before the event of the artist minting a bunch more. But why? It's the same JPG.
- codetrotter 5y ago> Are dollars printed during the 2008 recession more valuable than those printed during the 2020 recession? No because dollars are not used the way that NFTs are. > But why? It's the same JPG. But it's not the same NFT.
- GDC7 5y agoIs a Brad Pitt autograph from 1999 worth more than his autograph in 2020? We are really latching onto the pipe smoke here.