3 ms·

If NFT art becomes common place I don't see it generating more money than the donation/patron system today too. Part of the reason people make huge amounts with

If NFT art becomes common place I don't see it generating more money than the donation/patron system today too. Part of the reason people make huge amounts with these early art NFTs is because people are throwing money into the novelty of NFTs, not from valuing the art. If you wanted to give an artist $1m (like this artist has gotten), there wasn't really anything stopping people from doing it before NFTs.

chii 4y ago
But if the NFT buyer believes that they could sell the NFT to some other person in the future for more money, then they would buy it from the artist today. This same person would not donate this money. So selling NFT is indeed a separate source of revenue from donations.
- s-lambert 4y ago
  This is a magical make believe situation that NFT people cooked up to pretend that NFTs could have value. It's very unlikely that this make believe situation will actually pan out in reality because then you're making a weird art trade market where people are reselling novelty. And then the only value the artist gets relies on a nonsense "revenue sharing" of NFTs where each resale gives back a portion to the original creator. Which doesn't even make sense because then the value of the NFT has to fluctuate so that people can recoup their losses/get actual gains.
  - koziserek 4y ago
    it will stick, I suppose. Perfect thing to supersede high art sales for money loundering/tax optimisation etc
  - chii 4y ago
    > This is a magical make believe situation that NFT people cooked up to pretend that NFTs could have value it's the same magic value assigned to art pieces themselves. It doesn't matter whether those buyers of NFTs make a profit or not - i don't care. I personally don't believe NFTs have value, but i can understand how other people could believe they do.

3 ms·

If NFT art becomes common place I don't see it generating more money than the donation/patron system today too. Part of the reason people make huge amounts with

by s-lambert 4y ago

chii 4y ago
But if the NFT buyer believes that they could sell the NFT to some other person in the future for more money, then they would buy it from the artist today. This same person would not donate this money. So selling NFT is indeed a separate source of revenue from donations.
- s-lambert 4y ago
  This is a magical make believe situation that NFT people cooked up to pretend that NFTs could have value. It's very unlikely that this make believe situation will actually pan out in reality because then you're making a weird art trade market where people are reselling novelty. And then the only value the artist gets relies on a nonsense "revenue sharing" of NFTs where each resale gives back a portion to the original creator. Which doesn't even make sense because then the value of the NFT has to fluctuate so that people can recoup their losses/get actual gains.
  - koziserek 4y ago
    it will stick, I suppose. Perfect thing to supersede high art sales for money loundering/tax optimisation etc
  - chii 4y ago
    > This is a magical make believe situation that NFT people cooked up to pretend that NFTs could have value it's the same magic value assigned to art pieces themselves. It doesn't matter whether those buyers of NFTs make a profit or not - i don't care. I personally don't believe NFTs have value, but i can understand how other people could believe they do.