Tom Ritchford
2 min readNov 11, 2021

--

Thanks for a very kind reply!

We both know that people do manage to sell NFTs and make money. The advantage in selling an NFT is quite obvious.

I don't think Gary Vee is ripping people off. He's selling access to his website, and using NFTs as a gimmick to sell it. Good for him.

That's not my question. What I am asking is, "What is the value to the buyer?"

Suppose you bought an NFT and didn't sell it to someone else for more money than you spent. What good would it do you?

The Gary Vee one is a perfectly example. Suppose I am given two choices of purchase - access to his site, or access to his site, and an NFT.

What exactly do I get with the second one? What additional value does the NFT have to me outside of being the NFT?

Yes, people right now value NFTs for themselves.

That's point when it comes down to it - someone decrees, "I have attached a solution for a math puzzle to a description of this work of art," and other people just accept that the NFT intrinsically has value just because someone said so.

So the only actual value of owning the NFT is the personal satisfaction to possessing an NFT that someone decreed was valuable.

Again, attaching something of value to an NFT like "a website membership" and then selling both together does not prove that the NFT has value - kind of the reverse if you ask me!

Yes, I think it's all a scam, every single time without exception.

I'm willing to go through any example you have. Each time we will be able to divide it into two completely separate parts - some item of intrinsic value that has nothing to do with NFTs; and the pure pleasure of knowing that you have an NFT.

Point is, that second thrill is going to pall pretty quickly. How many times can you look at a long hexadecimal number and swoon?

--

--

Responses (1)