Art-backed debt (and thus money) is pretty cool. Feels like an advanced civilization should have this.
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The issue is still liquidity and will be for some time. Even with NFTX, the liquidity is not sufficient and the index only tracks the price floor so you’d only be incentivized to use the shittiest punks/HMs as collateral
There'll have to be some standardized value metric for collectibles, which also kind of defeats the novelty of NFTs. I guess the indices could become more robust, for instance, a higher floor for like hashmasks with rare traits, like mystical etc.
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"There'll have to be some standardized value metric for collectibles" I dunno, whats the standardised metric for an Adam Sandler t-shirt? How about a cigarette Lincoln smoked? The highest value items are always illiquid and subjective in value. You can draw comparisons at best.
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Yeah, let me know where you can deposit an Adam Sandler t-shit as collateral to borrow against.
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