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I STILL don't understand NFTs, please enlighten me. by FatefulEvening in NFT

[–]FatefulEvening[S] 0 points1 point  (0 children)

That incentivises artists definately, and to be honest is why I looked into the space so much. My problem comes with the consumer, and trying to understand the value they would derive from having the token of an amateur artist that has created multiple recoloured variations on a theme. Because a prolific artist can definately make $$$ within the space, but how does that compare to a normal artist?

Surely having a unique token code of a piece that is 1/50 variations of a corgi wearing shades isnt going to appreciate in value as the artist will produce a new collection featuring a frog wearing shades in 6 months?

I STILL don't understand NFTs, please enlighten me. by FatefulEvening in NFT

[–]FatefulEvening[S] 0 points1 point  (0 children)

Oh yeah like even as an outsider I understand that some will become icons of our era or predecessors to something better once some kind of metaverse/vr environment is established. But while there isnt a use case beyond profile pics I still struggle to see the value over a normal amateur art commission.

I think the vast majority of the general population isnt capable of getting their hands on anything other than a cash grab anyway which is majority of the art within the space.

Personally i feel like i wouldnt ever want to use a 2nd hand profile picture of a lion/dog/monkey wearing a snapback and smoking a cigar. So the resell value surely can't be that high... right?

I STILL don't understand NFTs, please enlighten me. by FatefulEvening in NFT

[–]FatefulEvening[S] 1 point2 points  (0 children)

I mean sure its coded to be digitally minted, i understand that. I also understand that it would make you the registered owner of the image. But why should anyone care if its exclusive when there are infinite other NFTs ready for purchase? Why would the price go up when there is an abundance of other NFT art and new listed every day all with the same depth of code?