[domano]

"An authorized third party is auctioning an entry on a blockchain for a URL that points to an authorized copy of a scaled up version of a born-digital Warhol image."

I can barely wrap my head around it and i work in software. How do non-tech people understand what the auction is actually about?

[Grustaf]

They don’t, obviously, that’s the whole purpose.

If they did they wouldn’t bid on it. Nobody would pay a cent for “the url of a jpg of a painting”.

[dTal]

You're not paying for the url of a jpg of a painting. Everyone already knows the url.

You're paying for someone to put an entry in a random database with a public URL next to your name.

[Grustaf]

Sure. But still.

[himinlomax]

Same here. The more I read about NFT, the more stupid it looks. It's asymptotically retarded.

[cyanydeez]

however, is it any more abstractly different than cryptocurrency?

[duped]

"Money laundering"