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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.

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