[inthewoods]

VCs are geared to take big swings and bets. Makes total sense that they would buy into anything that has the potential to be a billion dollar idea, even if the likelihood of success is 1-5%.

What's interesting about NFTs to me is that an org like the NBA is one of the most successful - but I guess that makes sense because, as others have posted, they generate all the NFTs and can validate them. So it seems to me that it can be successful in the case where you have a single, centralized owner. Where it breaks down for me is when that ownership is some random person on the interwebs.

NBA Top Shot is also interesting because the number of buyers/sellers seems fair stable/flat - that would indicate to me that it is a relatively small number of people trading with each other because I think the number of buyers/sellers would increase if the overall market was growing - but I could be wrong about that.

https://www.cryptoslam.io/nba-top-shot

[whateveracct]

> So it seems to me that it can be successful in the case where you have a single, centralized owner.

Postgres also works great when you have a single, centralized owner

[cphoover]

Yea but then it's not "crypto" duh. /s

[oleganza]

Don't confuse VC's position to have more capital, closer to action, so even if their bet is shit, they'll be able to exit with profit because they entered on lows and pumped it to everyone else.

[inthewoods]

Oh I don't think they'll necessarily profit - I'm saying that they are incentivized to take a lot of risk. But I don't think that makes them either any smarter or that they'll have a guarantee of being able to get out before the walls collapse.

[ALittleLight]

I don't think NFTs are a good fit even for something like NBA Top Shot. You can already buy custom emotes or skins or whatever in video games. No NFTs necessary, just use the game's database for record keeping, not an NFT.