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This is the most cogent explanation I've read so far. An NFT token basically serves as a counterfit-proof declaration that artifact X is worth $N, at least to o
by danbmil99 5y ago
This is the most cogent explanation I've read so far. An NFT token basically serves as a counterfit-proof declaration that artifact X is worth $N, at least to one buyer. It's sort of like Patreon for rich people, with the proviso that there will only be one patron at a time.
- johng 5y agoThis isn't even true. Because I can own both the selling and buying account and artificially "purchase" said item publicly. Even the price can't be trusted.
- kranke155 5y agoYou think fraud in the art world is unusual? It’s a deeply corrupt place. Money laundering is the norm not the exception, even at big auctions of physical art.