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Author seems to understand supply and demand — they are making the point that the NFT perspective doesn’t include a rationale for demand.
by svnt 4y ago
Author seems to understand supply and demand — they are making the point that the NFT perspective doesn’t include a rationale for demand.
- coldtea 4y agoDemand doesn't need to have a rationale (in the sense of "real needs" or "utility value" or something of the like) to work in raising value. It just needs to exist!
- svnt 4y agoYes, but if the demand doesn’t establish itself in some other context that serves a narrative (whether cultural, material, tax shelter, or other) the dynamics of the underlying market tend to be in the realm of tulips and postage stamps.