Everydays: The FIRST 5000 DAYS sold online for $69,346,250

christies.com

9 points·high_byte··10 comments

A common sentiment: This makes no sense to me.

But lets add something: NFT's make sense for low-value consumer purchase. Buy a Lady Gaga album, and it's noted down on the blockchain that you own it. Google Music goes down? Ownership is yours still. Other stores (could be legally required to) still honor it. Possible to sell your album second hand.

Google could just sign a proof-of-purchase. There's no particular benefit to putting the proof on a blockchain.

This, a blockchain for storing ownership is incredibly inefficient.

Putting it on the blockchain makes it transferable.

We could let users sign a bill of sale. That could either be packaged together with the original proof of purchase in a private transaction, or published to avoid a "double-spending" situation where both the old and new owners claim the item.

Or, have the users do the transaction on one of these participating websites and create a new proof-of-purchase and revoke the old one.

I've never seen anyone as prolific as Beeple. I've seen artists match this for shorter stretches, but every day for 13 years??

NFTs are here to stay. Their value is no more arbitrary than the value attributed to art on canvas. It's the idea of the thing, and more importantly, mutual agreement.

Now smash that into the digitization of everything and a couple decades later we have this. Enough confidence in the permanence of tech to have manufactured virtual scarcity.

They are cryptokittens.

They are somewhere in between, guess we’ll have to see.

Cryptokittens were pretty popular too, for a while.

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