Answer by Not Entirely Serious for Why do NFTs have value?
NFTs have value solely because some people agree that they do. The same principle applies to money - bitcoin, dollars, dollar bills, etcetera. It doesn't cost anywhere near $100 to produce a $100...
View ArticleAnswer by Money Ann for Why do NFTs have value?
NFTs are not just a way to pay for pretentious art. They simply extend the basic idea of cryptocurrency. Cryptocurrency is a way to prove that you were given certain funds, without having to hold on to...
View ArticleAnswer by Damian Yerrick for Why do NFTs have value?
An NFT owner is effectively an executive producer.Film and television production has a credit known as "executive producer." Wikipedia's article about this role states that it includes financing the...
View ArticleAnswer by David Jacobsen for Why do NFTs have value?
The other answers here aren't addressing what I believe to be a core misunderstanding within your question.You said:So when someone made an NFT of the first Twitter posting,It wasn't 'someone' that...
View ArticleAnswer by quid for Why do NFTs have value?
Without rehashing the idea of bubble mania, my most optimistic answer to "why" would be outside speculation of future abilities to temporarily donate the art to a museum of some sort multiple times.To...
View ArticleAnswer by Daniel for Why do NFTs have value?
The idea behind NFTs as art is that they create a kind of scarcity for digital art that already exists and drives the value of physical art. The theory is that the reason high value art has such high...
View ArticleAnswer by Bob Baerker for Why do NFTs have value?
An NFT has no fundamental value. Its selling price is only worth what someone is willing to pay for it. It reminds me of Tulipmania where something worth next to nothing suddenly sells for a...
View ArticleAnswer by jamesqf for Why do NFTs have value?
The other answers so far have missed an important point. As with a lot of expensive art, the object itself is almost beside the point. What's really at work is status seeking. By spending a lot of...
View ArticleAnswer by chepner for Why do NFTs have value?
Like anything else, the NFT is worth whatever price you can find someone willing to pay for it. Unlike virtually every other asset, the NFT has no other use: it represents ownership for the sake of...
View ArticleAnswer by Simon B for Why do NFTs have value?
They are valuable because people value them. The same way that people like to own other trinkets that have no particular use. In many cases, people like to "own" something, even if that thing can...
View ArticleWhy do NFTs have value?
I've seen dozens of articles on NFTs, and not comprehended a single one. So when someone made an NFT of the first Twitter posting, I didn't understand how that would be a means to generate any sort of...
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