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By "tangible value" I mean that it has some kind of function. If you buy property you can live there, rent it, etc. If you buy stock in a company you now own pa
by 2fast4you 4y ago
By "tangible value" I mean that it has some kind of function. If you buy property you can live there, rent it, etc. If you buy stock in a company you now own part of that company and technically get voting power.
Not every asset has to have tangible value, they can have purely financial value. I said you technically get voting power when you buy a stock because I don't think that's why most people buy stock. I buy because I believe in the company and I believe the value will increase.
I haven't seen much tangible value from NFTs and, as this article shows, they don't have much financial value either.
- smabie 4y agoThere's tons of NFTs that are valued and traded at 5-6 or even 7 figures. Off the top of my head, cryptopunks, BAYC, ether rocks come to mind. Also by your definition an expensive NFT does have tangible value, I can brag to my friends about it and get social clout (probably the most important kind of value that exists).
- thawaya3113 4y agoWhen was the last time those were traded in real currency at those valuations?
- smabie 4y agoVery recently unless you don't consider any assets on chain to be "real"