Quote:
Originally Posted by SkinnyPupp
Because it doesn't matter if you or I would buy an NFT... That's not what I'm arguing here. What matters is, who would? Maybe some people who just really are getting conned by the whole thing, or some celebrities or athletes, but more likely it's other "bitcoin millionaires" playing the next version of the gambling game.
If you happen to be able to sell something for $30K, great for you. Good luck with that, but maybe someone will buy it from you. But that person doesn't see any value in that JPEG, they just want to sell it to the next guy for $60K. And so on.
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There are a lot of reasons some one might buy a NFT for the same reason that someone might buy a painting in real life. Some buy might it as an investment, some might buy it to launder money, and some might buy it because they like digital art.
Not every NFT is going to cost five digits in the same way that the painting hung at your local coffee shop didn't cost a million.
If your problem is that people are buying for the sole purpose of flipping it for a quick buck, well, that's just capitalism and is not something limited to just NFTs.
Again, I'm not against or for NFTs. I can just see why people are interested in it and that there's a valid use case for them. If you think of them as trading cards for millennials, I think it helps wrap your head around the concept.