Why the attitude? I'm responding to a post saying it is not actually scarce and explaining why I think it is. I'm not arguing for NFTs, but even if I did I don't think it warrants such a snarky response.
Anyway, my point with that parentheses was that there are a lot of things that has no intrinsic value but still has value on the market.
Only that your question about intrinsic value seemed rather .. weird.
My point with that parentheses was that there are a lot of things that has no intrinsic value but still has value on the market.
Can you provide some examples, please?
I can think of plenty of market assets which have what we might say is slightly abstract kind of value -- "brands", naming rights to stadiums, etc -- but still, it's pretty straightforward to see the intrinsic utility they provide, and that this easily translates to dollars.
With NFTs though -- there just isn't it any. Other than to sell to the next sucker in line.
EDIT: Wait, I can think of one asset class that compares to NFTs: signed sports memorabilia. Which of course have crap resale value (except for items signed by ancient players like Joe Dimaggio). But the modern versions team franchises regularly crank out -- not so much.
Anyway, my point with that parentheses was that there are a lot of things that has no intrinsic value but still has value on the market.