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Feels like there’s a black-scholes type pricing formula waiting to be discovered out there for nft pricing based on attributes… something that goes beyond basic rarity and draws from tcgs, extended universes etc to make a proper theory of it
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Price is a measure of both Utility and belief in future price. Utility has many metaphysical flavors, but can be oversimplified into physical, social, intellectual planes, and then a temporal variant of each. Physical and Social (spot) Utility tend to derive from scarcity.
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Intellectual Utility is generally anti-rivalrous, and not priced via measures of scarcity. So with all that being said: NFTs are intellectual constructs trying to create Social value by artificial scarcity. The “spot” price has both Social Utility & Speculation built in.
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