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"What exactly are buyers of the Trump Trading Cards purchasing? Yes, they are NFTs, but unlike others of these digital art pieces, the people foolish enough to
by zoklet-enjoyer 4y ago
"What exactly are buyers of the Trump Trading Cards purchasing? Yes, they are NFTs, but unlike others of these digital art pieces, the people foolish enough to purchase a Trump Trading Card don’t actually own the things they paid for, at least not in the traditional sense. If any buyer decides to sell their Trump card in a secondary market, they don’t get all the proceeds. The fine print reveals that 10% of every secondary market sales goes right back to Trump and his fellow grifters."
This is where I stopped reading. The author clearly knows nothing about NFTs. Being able to earn money from secondary sales is one of the innovations of NFTs and is very common.
- red_trumpet 4y ago> Being able to earn money from secondary sales is one of the innovations of NFTs and is very common. And in some cases totally dependent on the good will of the marketplace: https://www.ibtimes.com/nft-royalties-debacle-enforcing-optional-less-year-3648007 https://www.ibtimes.com/nft-royalties-debacle-enforcing-opti... https://www.theartnewspaper.com/2022/12/02/nft-artist-royalties-under-threat https://www.theartnewspaper.com/2022/12/02/nft-artist-royalt...