|
Title: NFTs value and their philosophy ? Post by: 10_sjdovn_10 on September 20, 2021, 06:59:17 AM Hello, I need to know why some NFTs (a piece of graphic) are multi thousand dollars , what makes that high price. for exp. how some random pixel art can make much money?
Maybe I still don't understand nature of NFTs ! so plz explain why ! Title: Re: NFTs value and their philosophy ? Post by: Konfusioon on September 20, 2021, 08:29:01 AM A useful analogy that works for me is to think of NFT-s as art. In a way your questions have no good answers. For example what makes Mona Lisa valuable? I hope I do not offend anyone but it certanly isn't because of it's artistic merit. For whatever reason society imparts value to an otherwise worthless thing. So essentially true but utterly meaningless answer to your question is that high price for some NFT-s comes from a random assortment of factors that makes at least one buyer to value the item at a certain price.
Title: Re: NFTs value and their philosophy ? Post by: WNTRjon on September 20, 2021, 03:20:45 PM The fact is that you won't find answers from the people who are controlling the market value of the NFTs currently making headlines. You have to understand how many incredibly wealthy people there are in the cryptocurrency world. Many of these people have millions of dollars, and they are always looking for more money and more status.
If these people collectively came out and said NFTs have no value, the value tanks. But they came together and said NFTs can be worth millions, even without utility, so the price skyrockets. This then trickles down to assets that more people can afford. NFTs are NOT images or art. NFTs are unique tokens. I don't own any NFTs yet. All of the ones I would like to own (for fun or utility) are outside of my price range, but I will keep checking the markets and certainly plan to buy some in the near future. |