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Re:Washed Up by quesera on Thursday January 06, 2022 @11:59AM (#29826116)
> So that first edition has real scarcity

Lots of things are scarce, but have no value. The value is in possessing a scarce and "authorized" representation of a popular thing.

> You can never make more. Can't say that about NFTs

Like any limited-edition thing, the promise is that there won't be more. You could absolutely forge a first-edition Harry Potter book. Someone probably has. And it would probably be more convincing than a "forged"/regenerated NFT. There has to be some trust in the official producer, and yes that's hard to come by in this space!

> I think NFTs are a tax scam

Well sure, like art or wine. But not all art or wine.

Re:Washed Up by 300bps on Thursday January 06, 2022 @12:25PM (#29826523)
The value is in possessing a scarce and "authorized" representation of a popular thing.

The use of the word "authorized" seems artificial in this context. I agree with you on scarcity and popularity being a requirement. But authorized seems off. A first edition Harry Potter book isn't authorized, it's just real. Forgeries are just fake, they aren't "unauthorized".

Another thing I learned from Pawn Stars are that things that were manufactured for collecting often are valueless. Harry Potter was written for the purposes of telling a story. It became popular because many people enjoyed it. First editions of the book had a natural progression to scarcity and popularity. On the flip side, Disney manufacturers "collectibles" all the time but they often are worthless. NFTs seem to be manufactured for collecting. Will they be more popular than Beanie Babies ended up being?

Well sure, like art or wine. But not all art or wine.

I think all NFTs selling for large dollar amounts are for tax dodging.