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What are NFTs actually worth?
NFTs are as full of potential as any canvas.
After all, the same dynamic applies — why buy a bunch of pixels?
Well… why buy a canvas with paint on it?
Pixels and paint aren’t the same thing, but there’s a lot to learn from that comparison.
The discourse around NFTs is fraught with smugness and disingenuousness. This sort of art is written off as a fool’s gambit; meanwhile, insiders of the NFT movement write off outsiders as effectively unenlightened.
My contention has always been that, often, the “next big thing” is not properly understood until it blossoms into the institution it’s capable of becoming.
That being said, one has to balance the “fear of missing out” with throwing money around heedlessly. There’s a fine line to walk. There’s a lot of information to take in.
NFTs are not the magic beans they’re often made out to be.
But, NFTs have intrinsic value that can’t simply be dismissed as “speculation”.
What sort of valuation system do we use?
When is an NFT good art?
And does that even matter to the market right now?
Just because something can be done doesn’t mean it should.
