“Throw millions at products in beta” is for products with utility? Or because they want to be patrons? Or because they want to resell it shortly? I think art as non-utility asset is a different thing than ‘useful product in beta where I want to invest in imperfect utility now’
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I am wondering how much the currently available spectrum of NFT assets is art and how much of it is the digital equivalent of baseball cards (or Magic the Gathering cards) NBA topshots, for sure, are a baseball card analogue. Penguins and shibas and similar seem that way too.
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I’m willing to bet you’re asking the wrong folks
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How do you mean? That they are too young to understand the phenomenon of either?
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Nothing to do with age sir. Talk to someone risking $100s of thousands or more daily on trading/investing. Tons of folks in the space with that specialized skill, and most aren’t in finance
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The key point about trading assets for their monetary value is knowing that someone ELSE wants the thing more than you and you stand between the seller and the buyer. And for that, as long as the holding period is short, and you identify trend, it doesn't matter what it is.
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Welcome to NFTs bau
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That doesn't necessarily speak well of the "art" involved, and given the gas/OpenSea fees, it should give one pause. Which is kind of the magic of pricing things in ETH.
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I was being a little cheeky, I’m sorry
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No I get it, but my point is that anything which moves fast enough so that the buyer and seller are willing to pay those fees with that turnover is more about the market dynamic than what is actually being bought and sold.
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It is interesting to think about what the NFT market might look like if the friction intrinsic to super high gas fees was reduced. Unfortunately doesn't seem likely to happen anytime soon
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Replying to @drewg__ @bauhiniacapital and
Uhh solana? The market places are shit still but the volume are getting big.
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Replying to @jamescmlin @bauhiniacapital and
I agree with you that Solana is made attractive by dint of how poorly Ethereum deals with scaling issues
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End of conversation
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