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> Most “common” art isn’t going to fetch millions, but a select few do. NFTs aren’t any different. Yeah, but set aside the million-dollar ones for a moment and
by fennecfoxen 5y ago
> Most “common” art isn’t going to fetch millions, but a select few do. NFTs aren’t any different.
Yeah, but set aside the million-dollar ones for a moment and imagine you found a new kind of art which consisted of the "artist" printing out a single copy of someone's work, and selling the printout for $150-$10,000 each. This copy has not been authorized by the person who made the work. The technology to make a functionally identical printout is readily available, though there's some ledger that tracks it and it won't be registered as the same object as the first printout.
Would you say that the purchaser of this printout is investing money wisely, or foolishly?
Would you say that "artist" is a legitimate actor, or some kind of scammer, thief, crook, or the like?