Re:NFT projects are just MLMs for tech elites
by paxys on Friday October 01, 2021 @12:19AM
(#28714489)
As with any other kind of collectable, scarcity is created artificially. There is a potentially unlimited number of baseball cards. I can print one for myself today. Yet it is the authenticated 1933 Goudey #53 which is worth $4.2 million. NFTs provide this authenticity.
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Re:NFT projects are just MLMs for tech elites
by tsimionescu on Friday October 01, 2021 @12:53AM
(#28714710)
Except that they don't, and still rely on experts to give any kind of authenticity. NFTs are like the serial numbers on dollar bills - if the dollar is genuine, then that serial number is unique, but the serial number itself doesn't prove that the dollar is genuine.