Why Are People Suddenly Paying So Much For This?



NFTs (non-fungible tokens) burst on the scene with a $69 million sale of Beeple’s digital art. Now players behind the so-called metaverse are betting “digital scarcity” will create a whole new ecosystem of play and commerce.

#NFT #OutOfStock #BloombergQuicktake

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20 thoughts on “Why Are People Suddenly Paying So Much For This?

  • September 1, 2021 at 10:34 am
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    Why not turn the wallet address from a string of hexadecimal characters into an NFT that is instantly recognisable then make whole wallets recursive and transferable?

    Reply
  • September 1, 2021 at 10:34 am
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    The issue of consuming electricity could be covered more deeply. I can see how that might become an obstacle, even if these guys seem to pay no attention to climate change.

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  • September 1, 2021 at 10:34 am
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    I guess some of it is due to money laundry, just as in the physical art market.

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  • September 1, 2021 at 10:34 am
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    We are living in a crazy age..

    Thx for the video

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  • September 1, 2021 at 10:34 am
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    Can I NFT a patent or copyright (or personal State or Federal Trademark)? THAT might be worth something to a lot more investors.

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  • September 1, 2021 at 10:34 am
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    I was thinking of a game that rewards mBTC to players and is paid for by subscription services and fancy economic models which make breaking even and/or profiting difficult, rewarding, investment heavy, gambler's fallacy heavy, sunk-cost fallacy heavy, and/or cosmetics heavy. Seeing as a lot of modern games use these ploys anyways, just putting money in one seems logical.

    Idk about "assets" other than the actual currencies in the next 5-10 years being terribly worthwhile. I'm skeptical because of low user-base.

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  • September 1, 2021 at 10:34 am
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    Because cryptocurrency regulations are coming soon. Nfts are not classified as currencies (money laundering is advancing)…paying $200k for a jpg rock…sure 🤣

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  • September 1, 2021 at 10:34 am
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    So they’re creating their own blockchain to create digital scarcity in their game. They could literally program the scarcity in without blockchain in the same way fifa does with their ultimate team, blockchains a gimmick for them

    Reply

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