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re: An NFT of Jack Dorsey's first tweet bought for $2.9M is now valued at less than $4
Posted on 7/23/23 at 12:41 pm to euphemus
Posted on 7/23/23 at 12:41 pm to euphemus
quote:
They were literally digital receipts that said you alone owned something that everyone did.
Well, in the Twitter example you provided, that's what it was, which is proundly stupid since the Tweet is still publicly available. NFTs are supposed to be the only digital print of a work, however--like if van Gogh only ever made one digital print of The Starry Night. As with any art, value is prescribed by the buyer/market. The NFT market could've launched skyward, but obviously it crashed after the initial hype wore off. Probably not completely dead, though, as I think there will always be a market for a "one-off" work made by people considered significant enough.
1
Posted on 7/23/23 at 4:04 pm to shutterspeed
quote:
NFTs are supposed to be the only digital print of a work, however--like if van Gogh only ever made one digital print of The Starry Night
Except it supposed to be the receipt that you bought that digital print. Not the print itself.
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