Thread by @monethereum

I know you guys love threads so I'm going to do one that's more of a monologue than anything else but I would appreciate any thoughts : #NFTs #ElrondNFTs #Zeitgeist /1

What is art? What is the value of a jpg? Or even more controversial what is the value of an ownership token for a cloud hosted image that can be downloaded and copied? /2

If you follow mainstream media there's a lot of ridiculing over Apes and Punks sold for 100000 USD and more. 13 year olds earning 500k by selling drunken whales. /3

So what do I think about it? I'm now in my mid to end 30s and I have seen the dawn of the internet, the smartphones and how it changed our lives when a lot of old thinking dismissed that as crap /4

I have bought physical art before. A photography that is an "original" print of an edition of 50. /5

So do I think it's worth more than the jpeg? Not necessarily. It's actually also an analogue copy that just gets its value from the signature of the artist. /6

It also has some downsides as in physical demise or damage. Also the signature could be faked. Those problems you don't have with NFTs. /7

Actually it's the first and only real way to call a digital media file an original by associating it with a NFT. E.G. artists like Beeple now have a way to sell original art. /8

But what about 3D Donkeys or Pixel Puppies? No one right answer - first of all most projects give you full commercial use rights and ownership. Stock pictures also cost money so that already give the file some worth (even it's a Pixelmon) /9

Then there's the aspect of brand cult and status objects. I feel like this new generation of degeniuses has other values than those before. No more Monets but Beeples. No more Rolls Royce but Membership in the Bored Ape Yacht Club! /10

I wonder what people would have paid for owning Link in Zelda, or Guybrush Threepwood in Monkey Island? That's one of the coolest thing about NFTs and that's actual utility. /11

I could go on and on....Or is it just a fad? A get rich quick dream for creators and speculators alike? Maybe I'm wrong with my take, but it is how I make sense of all this. Wanna chime in with your thoughts? /12

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