NFT's and Beanie Babies, interesting article

[BobC]

Originally Posted by Exhibitman

The value of a copyright, patent or trademark on a digital image is the right to use it and sell the right to use it. If the NFT came with the copyright so you could license it then it would have some independent value. But as they stand now, they do not, so the comparison with other forms of intellectual property is inapposite.

And that is one of the reasons I can't fathom why people would be paying so much for these NFTs. Is it possible that some people actually feel they'll be able too generate some future income from an NFT? If that turns out not to be true, a lot of people may be in for a rude awakening.

[swarmee]

Originally Posted by BobC

And that is one of the reasons I can't fathom why people would be paying so much for these NFTs. Is it possible that some people actually feel they'll be able too generate some future income from an NFT? If that turns out to be true, a lot of people may be in for a rude awakening.

Well, greater fools theory is a thing. Plus some NFTs have embedded into the code information about the original owner, and every time it sells, a portion of the sale price is sent back to the creator's wallet. And some NFTs have the ability to be moved off one site (original purchase location) into a digital wallet somewhere else, to be sold on a different exchange or just stored there in case of crash/theft. TopShot minted their "moments" with the availability that they could be moved off-site, however Panini's original blockchain was more like an Excel spreadsheet with tracking and all transactions needed to stay there (so Panini gets a recurring cut of every sale).

[BobC]

Originally Posted by swarmee

Well, greater fools theory is a thing. Plus some NFTs have embedded into the code information about the original owner, and every time it sells, a portion of the sale price is sent back to the creator's wallet. And some NFTs have the ability to be moved off one site (original purchase location) into a digital wallet somewhere else, to be sold on a different exchange or just stored there in case of crash/theft. TopShot minted their "moments" with the availability that they could be moved off-site, however Panini's original blockchain was more like an Excel spreadsheet with tracking and all transactions needed to stay there (so Panini gets a recurring cut of every sale).

I hear you.

[Snapolit1]

Too funny.