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Re:Beeple JPG File Sells for $69M, Setting Crypto Art Record by JoeAltmaier on Friday March 12, 2021 @11:10AM (#26437257)
Except its native format can be infinitely copied and enjoyed. And has started down this road, as the OP had a copy of it embedded, which we all saw without paying.

That's nothing like 'traditional intrinsic value', seems to me. Theres absolutely nothing different from my experience and the 'owners' experience.

Re:Beeple JPG File Sells for $69M, Setting Crypto Art Record by rafale on Friday March 12, 2021 @11:17AM (#26437353)
You could say the same of a high quality replica of the Mona Lisa or a Picasso. It's all about the status of having the "real" thing. If you wanna argue it's vain, I agree, but many people find it impressive at the same time they look down at any copy as pathetic no matter how close to the original, even when to the point to being identical.
Re:Beeple JPG File Sells for $69M, Setting Crypto Art Record by thwarted on Friday March 12, 2021 @01:19PM (#26438943)
Making a high quality replica of the Mona Lisa requires work, and it still won't be identical—thus the term "replica".

Making a high quality copy of a digital work requires exactly no additional work. It actually takes more work to make a non-exact copy (say the CPU time of recompressing a JPEG with different compression settings). Because there's no work required to make an exact, indistinguishable copy, there is no scarcity.

If this was just about recording the rights to use/exploit a work, digitally and mathematically backing the concept of copyright, that would be one thing. That would help with, say licensing stock photos. But what does it mean to "own" Jack's first tweet? How does one exploit that exclusive ownership? Is it the words of the tweet? An image of it?

Re:Beeple JPG File Sells for $69M, Setting Crypto Art Record by JoeAltmaier on Friday March 12, 2021 @11:18AM (#26437367)
No, at the point of being identical, the distinction evaporates. That's my point I guess.

Imagine for instance that I register the image with a different blockchain. Do I now 'own it' too? Yes, I do, by this modern tortured logic.

Re:Beeple JPG File Sells for $69M, Setting Crypto Art Record by gcollard- on Friday March 12, 2021 @12:15PM (#26438084)
There’s rights and licensing fees associated to it.

In a couple years this might be displayed in a museum somewhere.

Modern art like monochromes are still displayed to this day.

Re:Beeple JPG File Sells for $69M, Setting Crypto Art Record by JoeAltmaier on Friday March 12, 2021 @01:54PM (#26439407)
There's such fees on any copywrite material. This 'blockchain proves ownership' stuff doesn't add or subtract from that?
Re:Beeple JPG File Sells for $69M, Setting Crypto Art Record by vallas on Friday March 12, 2021 @02:12PM (#26439642)
People seem cynic towards those NFTs - as well as the public reaction to the first stock papers or the first crypto currencies.

One important question is what will enable NFTs? Maybe it's virtual hang outs places with digital scarcity, then it makes sense.

Re:Beeple JPG File Sells for $69M, Setting Crypto Art Record by bellyfullofbac on Friday March 12, 2021 @04:49PM (#26441392)
Just like crypto or Hertz stock, people will buy NFTs because they expect tomorrow or in 10 years there'll be a bigger fool that will be willing to pay them even more money to own the thing. (This is the "greater fool theory").

At least classic cars or limited edition supercars actually have proper scarcity, and they are things that can actually be enjoyed and shown to people for bragging rights (i.e. to gain social value) or to attract a mate.

In my view NFTs is just yet another digital ponzi scheme, kudos to whoever came up with it, even Jack Dorsey saw the $$$ and got attracted to it.