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by intotheabyss 1861 days ago
Because the NFT is only as good as the blockchain it was minted on. The vast majority of (valuable) NFTs are minted on Ethereum. If someone mints the same NFT on Flow for example, it won't be as valuable because it's a copy (verifiably so) and it's secured by a centralized chain. NFTs are supposed to live on as if they were physical objects, so minting an NFT on a centralized chain has a significant risk of not existing in the future.
2 comments
singold 1861 days ago
I get the difference between different blockchains, but what I can't see is what value I get when I buy an NFT. As I see it I only get the brag rights of "owning" something on some blockchain and the posibility of reselling that right.

But I may be missing something

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intotheabyss 1861 days ago
It takes a particular kind of person to buy an expensive NFT. It's just not for you it sounds like. But yeah, you get the bragging rights and you own the asset through your private key. A lot of the "crypto OGs" own some of the more expensive NFTs like the cryptopunks and they use these assets to show off essentially.
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th0ma5 1861 days ago
Right, and Ethereum is effectively centralized https://web.archive.org/web/20201214170136if_/https://www.re...
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intotheabyss 1861 days ago
You can't be serious with that link? That entire subreddit was run by one person who clearly had a mental health disorder. I remember that person very well.

edit: I'm not arguing every single point here because a lot of them aren't even relevant anymore, and frankly I just don't care enough to go through them with you. I'm not trying to win an argument. The information is freely available for all to see and people can do their own due diligence

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th0ma5 1861 days ago
That's not an argument against their points

Edit reply: you actually don't have any argument, I guess then why post? Ad hominem isn't very useful nor informative, especially without any citations

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