this post was submitted on 20 Aug 2023
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Don't forget about nfts there the future man they can't be replicated man where can you spend 100k and by the end of the week your investment is worh $3.50
NFTs weren't created to be the proof of ownership of digital art, they just happen to be associated with that because that's what the majority of them were created for.
The NFT isn't the art that can be copy-pasted to any computer, it's the proof of ownership. Criticizing them by saying "I can just download a copy of the picture!" is like saying copyrights are useless because you can use tools to rip movies from streaming services, sure you "own a copy", it doesn't make you a rightful owner of it from the perspective of the law.
But there worthless because digital art is intrinsically less valuable than real art
The intrinsic value of any art is what someone is willing to pay for it.
For example the world’s most expensive NFT, The Merge by Pak, sold for $91.8 million. Its price was higher than the sale of Jeff Koon’s Rabbit, the most expensive artwork by a living artist at auction. It's all about personal tastes and how deep folks wanna dig in their pockets with this stuff.