This newsletter was lampooned on Wall Street.
Conversation
Not necessarily. In an auction, you need quality more than quantity of bidders. If you limited PFP ownership to 1:1, the price would be lower because whales would overpay for 2+. Some NFTs are Vebelen goods, valuable because of exclusivity. Prices hold higher when fewer sellers.
1
1
this does not meet the criteria for Veblen goods. the demand increases in relation to price.it is true that if exclusivity is tied to price price would increase due to supply and demand, but it is not definitively true that an increase in price increases demand.
1
1
Agreed. Ran out of characters and that came out bad. Price alone isn't enough to make something a Vebelen good.