4 ms·

Too early to tell is exactly correct. Author pointed to the 13 year time line and pretended the "internet" didn't also take 20 years for it to go from lab to a

by pxue 5y ago

Too early to tell is exactly correct. Author pointed to the 13 year time line and pretended the "internet" didn't also take 20 years for it to go from lab to actual wide spread public use. NFTs in theory, are no less productive than fine art. And fine art (or IRL collectibles) are a well accepted form of diversified asset. I'm not bought into the overall hype though. Some toots web3 will change human nature, as if "decentralized" decision making would magically make people less lazy and less selfish. I doubt that. too early to tell is the best we can do right now.

alex504 5y ago
Fine art and NFTs are not theoretically the same. With fine art there is only one object, which can only be picked up, looked at, and so forth, in one spot. People go to museums or private collections to go see these pieces because looking at them on a computer or in a print doesn't have nearly the level of detail needed to appreciate them. Seeing a reproduction or a computer image of fine art is like going to a movie theater VS watching a movie on an iPhone SE, or going to the opera VS listening to it on your iPhone. And only one person can own that experience. This is untrue for NFTs. There is basically no value whatsoever to an NFT as far as I can tell VS say an svg of whatever image you downloaded. NFTs don't need to be owned to appreciate them, and "owning" them is basically meaningless insomuch as someone who takes a screenshot has about the same level of ownership as the person who "bought" it.
- ourmandave 5y ago
  NFTs aren't about ownership. They're for solving repetition problems. "I'm the Greater Fool." "No, I'm the Greater Fool." "No, I am." "No, me. Continues, ad nauseam.
zepto 5y ago
NFTs are not equivalent to fine art. They are equivalent to receipts documenting payments for a piece of fine art that is permanently hanging in a public gallery for anyone to see. In the case of an important work of art, it is likely that some of these receipts will be of historical interest. The rest are just lottery tickets that didn’t win.
mattwilsonn888 5y ago
No need to limit your analogies. NFT's are digital and their use will be of a digital nature. Anyone who has participated in a virtual item marketplace can see clearly what NFT's are good for, even if that's not quite what most are yet. The primary issue with today's NFT's are that most lack a platform - a place to show them off like in game, or in (trigger warning for buzzword-phobics) a meta-verse style environment.

by pxue 5y ago

alex504 5y ago

Fine art and NFTs are not theoretically the same. With fine art there is only one object, which can only be picked up, looked at, and so forth, in one spot. People go to museums or private collections to go see these pieces because looking at them on a computer or in a print doesn't have nearly the level of detail needed to appreciate them. Seeing a reproduction or a computer image of fine art is like going to a movie theater VS watching a movie on an iPhone SE, or going to the opera VS listening to it on your iPhone. And only one person can own that experience. This is untrue for NFTs. There is basically no value whatsoever to an NFT as far as I can tell VS say an svg of whatever image you downloaded. NFTs don't need to be owned to appreciate them, and "owning" them is basically meaningless insomuch as someone who takes a screenshot has about the same level of ownership as the person who "bought" it.

ourmandave 5y ago
NFTs aren't about ownership. They're for solving repetition problems. "I'm the Greater Fool." "No, I'm the Greater Fool." "No, I am." "No, me. Continues, ad nauseam.

zepto 5y ago

NFTs are not equivalent to fine art. They are equivalent to receipts documenting payments for a piece of fine art that is permanently hanging in a public gallery for anyone to see. In the case of an important work of art, it is likely that some of these receipts will be of historical interest. The rest are just lottery tickets that didn’t win.

mattwilsonn888 5y ago

No need to limit your analogies. NFT's are digital and their use will be of a digital nature. Anyone who has participated in a virtual item marketplace can see clearly what NFT's are good for, even if that's not quite what most are yet. The primary issue with today's NFT's are that most lack a platform - a place to show them off like in game, or in (trigger warning for buzzword-phobics) a meta-verse style environment.