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Re:NFT projects are just MLMs for tech elites by analog31 on Thursday September 30, 2021 @11:51PM (#28714274)
In my view there's a finite number of Picasso paintings, but an as yet unlimited possible number of digital artworks, and an unpredictable number of things that could compete with digital artworks for the dollars of buyers.

To fix the supply of digital artworks, there has to be at least a loose consensus on what the accepted "canon" of those works consists of. For now, that's an unknown.

Re:NFT projects are just MLMs for tech elites by tsimionescu on Friday October 01, 2021 @12:41AM (#28714638)
There's a finite number of Picasso paintings, but an infinite number of non-digital artworks. Digital art is no different from physical art in terms of availability.
Re:NFT projects are just MLMs for tech elites by analog31 on Friday October 01, 2021 @08:43AM (#28717726)
True, all of the paintings in hotel rooms. In my view, the value of Picassos is partly due to a loosely accepted "canon" of paintings that are considered to be of particular value. If hotel paintings were discovered to be of equal artistic quality, it would not put them in the "canon." The supply is artificially limited by social convention.

Art prices are also driven in part by a partial record of sales, so at least we know what some paintings sold for in the past.

What we don't know about the digital art world is what conventions will emerge, that define the "supply" of works of particular value.