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RE: The NFT Bubble

in LeoFinance3 years ago

That was my experience too, I went on these sites like rarable and it was selfies and 5 minute doodles marked up for 1 ETH and I'm like wtf? Somehow there needs to be some way to filter stuff or curation, or its just going to be a flaming pile.

I'm fine with mint what you want but I think the market places should be more well curated and also speak to one another in some way. Because people are minting the same shit across chains and there's no way of knowing what is what, but hey these platforms are raking it in so I guess if it makes money then I'm just being salty

Oh do I think the entertainment industry is noble lol hell no, they've been putting up shitty legal barriers for years creating moats of value that they control. If disruption comes for them, the better, I just don't see NFT's in their current format as that disruptive tool.

If for example, you said the NFT is a claim on the physical good and I can validate that with the gallery and we have several parties that agree and have a multi-sig type NFT yeah by all means, better than just an old paper contract for sure.

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There's no FOMO brewing about in my veins. I can be just as much an artist today as I can in ten years. Next year something better might come along, or we see improvements on execution, or we see it eat itself to death and I'll be glad I didn't set up shop wasting time and resources in a city destined to burn to the ground.