nobody in the discord is under the delusion that everything is going up forever. we are “take money the f do” oriented, don’t get it wrong. but there’s potential for a small number of artists releasing art in this form to end up being warhols or banksys in 20 years. we’re searching for those too. it’s kind of a cosmic gumbo
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That’s exactly what I’m arguing. It could go up massively from here. There are probably great opportunities to make money.
But that’s not the pushback I’m getting. The pushback I’m getting is that these things are going to become eternal collectibles, and have staying power on the same level as fine art.
Do the people in that discord believe that crypto is going up forever or do they believe that crypto is a hustle where they can make money now but it won’t last forever?
But how much art do you really know? Like, how many famous artists from the last ~30 years can the average person name? Just Banksy?
I hate to say it but people have been waiting on the big crypto meltdown for a decade now and it mostly hasn’t happened. I’m hearing a lot of the same arguments with regard to NFTs. Like sure maybe that day still comes and all the crypto bros are ruined and jumping off buildings but it hasn’t happened yet and doesn’t show any signs of happening. If anything crypto has become more and more and more mainstream.
And really the biggest mistake you could have made investing the last 10 years is not putting at least some money into crypto and crypto related assets. I’m not sure that is even debatable.
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A few will, most wont. That’s true for basically every genre of collectible.
but they are. nft has proved that the actual technology, the actual mechanism is sound. steph curry wants one. marc cuban wants one. rich people want one.
you are arguing against things that already happened.
what i will argue that i don’t think steph curry would give a flying shit about his ape in two years, cause it’s a fucking ape it’s not picasso. he will buy some other digital art that is better than a cartoon
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Also ‘fine art’
But can you hang it in your metaverse house?
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The rich people who collect art and drive the markets know all that shit. They only care about impressing their peers.
Same with collectible cars, baseball cards, etc. A huge part of the experience is being able to possess it, touch it, show it off to other collectors. A lot of them send their collections around in traveling shows, or house them in permanent galleries that the public can visit. Not sure how exciting that would be with NFTs.
Personally I’m not into collecting anything. So NFTs are a double turn-off for me I guess.
there are mixed ideologies on that point. i feel ethereum is going to be the biggest proof-of-stake blockchain out there in the future, cutting the ecological disaster of bitcoin mining to basically zero. an eco-friendly cryptocurrency and most importantly the smart contracts that can be written to interact with this blockchain, i think are world-changing yeah. now it’s not a sure thing it’s a gamble but i like it as far as investments like gold and s&p500 go
If the market for fine art falls, you’ve still got a Picasso to look at. What do you have if the NFT market tanks that someone who doesn’t own the NFT doesn’t have? Knowledge that you own it? How much is that really worth?
If I had to bet, I’d say NFTs follow kind of what Pokémon/magic cards have. There will be so, so many of them and they will be around in 20 years, but the most sought after shit in 20 years will be the stuff that was the most sought after at the beginning. There is a reason black lotus/charizard are fetching 5 to 6 figures.
I think there will be rare and “cool” NFTs in 7 years worth $, but the original shit always has value in these spaces.
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I guarantee all this stuff is going to be worth nothing when the sun explodes or when 11-year-old Jamie mm$!;?Xx of simulation #2884747278290394938845742 outgrows this Squid Game version of the Sims that she’s been playing for about two hours in her experience of time.
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dude this is a terrible argument. i literally had a picasso print hang in my previous apartment that my wife bought in barcelona.
this is the wrong angle to attack the nft market. the angle to attack is that people actually want to look at a picasso, original and print, while they are only trying to flip the overwhelming majority of nfts
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idk if that follows. if the nft is worthless and you can still look at it. if the picasso is worthless you still own it
i’m sure you can go to the library and find a whole book of picassos for free if you wanted to look. owning is the reason they pay a million dollars, not to look at it
What if I buy a bunch of black lotus/charizard, then set up an NFT server and issue you a certificate that says you own one of them, but you can only view a picture of it and maybe visit it once a year - like the tungsten cube? How much would you pay for that?
Nobody really gives a fuck about looking at a Picasso absent context.
Then they aren’t first edition so probably not.