| >And they're left with peddling NFT's Literally every argument against image NFTs is also an argument against art. Art is not a yield producing asset. Just like NFTs can be right-clicked and saved, indistinguishable to the naked eye reproductions of expensive paintings can be ordered relatively cheaply. The idea of the 'original' is a social abstraction, just like the idea of who's the real owner of a NFT is a social abstraction. Exactly like physical art, image NFTs are fueled by a desire to own status symbols and the eternal need to launder money, in unknown proportions. They are objectively better than physical art at both. They are better status symbols because it's easier to show other people that you own expensive NFTs than it is with real art. It's enough if your ethereum address is publicly known and it's there. There's no fraud possible. With real art, you have to go out of your way to show it - maybe by inviting others to your home, but then they may wonder whether it's real or a reproduction.
For money laundering it's way easier to sell NFTs for big amounts anonymously than real art. Those two fundamental properties also make it somewhat of an investment, if you can predict what people belonging to one, or both, of those groups are going to want in the future. For those two reasons physical art is going to be less and less important. >The "Web2" would be an empty space pretty soon. Yet it hasn't happened despite over a decade of hot-air Considering your knowledge of such details as iota's hash functions, it's clear you're being intentionally misleading. Ethereum is 6 years old, and the technology to scale to global levels - zkrollups - only started to arrive in 2021. |
It is not. It's an argument against capitalism. Don't conflate them, there's art outside of capitalism, too.