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You get it. Another analogy I use for friends who ask (I have a sizable NFT 'bag'(investment)): I say why do people buy Rolex watches and Gucci purses? Status
by Cshelton 5y ago
You get it.
Another analogy I use for friends who ask (I have a sizable NFT 'bag'(investment)):
I say why do people buy Rolex watches and Gucci purses? Status. So you can't show off a 'real' Rolex well in the digital world. NFT's are that. Provably scarce. Verifiable.
The luxury industry is massive and people crave to have status and/or 'belong' to something. NFTs are no different and they are not going anywhere. It is early.