Re:Metakovan, the mystery Beeple art buyer, and his NFT/DeFi...
by Rule35 on Sunday March 14, 2021 @07:00PM
(#26460376)
> we hear that owning a digital "asset" is actually the same thing as a physical "asset" because
What's the difference between paying 100x for a purse, etc, and a digital status symbol? It's not bought as a good, it's bought as a symbol. Yeah, it does seem wasteful, and I generally think "spending Dad's money" when I see it, but it doesn't offend me.
> but doesn't anyone else think this NFT art thing is bullshit?
Yeah. Because it's not clear that it's just a prestige way to sponsor someone. Non-techies may not understand that the NFT offers no control over the art, the way that owning an original allows you to lock it in a vault or burn it.
What's the difference between paying 100x for a purse, etc, and a digital status symbol? It's not bought as a good, it's bought as a symbol. Yeah, it does seem wasteful, and I generally think "spending Dad's money" when I see it, but it doesn't offend me.
> but doesn't anyone else think this NFT art thing is bullshit?
Yeah. Because it's not clear that it's just a prestige way to sponsor someone. Non-techies may not understand that the NFT offers no control over the art, the way that owning an original allows you to lock it in a vault or burn it.