Victims of NFT craze

[JWeinCom]

OneTime said:

JWeinCom said:

I get the theory. It's the same logic behind people that want a first print of a pokemon card or book or whatever. But, when something can be replicated easily and perfectly by literally anybody, it kind of doesn't work.

It's an interesting comparison... if you look at something like a first edition copy of a Charles Dickens book, it'll only set you back $40k.  Less well known authors are much cheaper.  In the longer term, there isn't going to be a large price tag on this NFT stuff...

I think there's a bit of a weird situation. There's really no reason a first edition dickens should be worth any more than any other copy. The story is the same. We've just been conditioned over the years to value those kinds of things, because way back when, there might actually be a limited supply. And, we somehow feel that physical objects owned or signed by a person are somehow like imbued with their essence or something. 

I think in theory, it's hard to justify a first edition Dickens being worth much more than a nyan cat gif. Like, maybe worth 20 bucks more or so. The value people place on it is based on how people feel about owning it, rather than any actual value. Like many things, the value is all about perception. If you could convince people that the original Nyan cat file is worth a million dollars or whatever, that's what it's worth. But people just don't view digital media the same way.