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JPG File Sells for $69 Million, as ‘NFT Mania’ Gathers Pace


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18 minutes ago, sblfilms said:


They are different, yes. To what end? Why do the differences matter other than to the individual making a decision on whether or not to purchase?
 

The original having more value than a copy is completely arbitrary! We just collectively have decided so. What if in the future we view physical goods as less valuable than high res digital versions of the same thing?


Yes, everyone understands and agrees that the subjective value of owning an original over a duplicate is subjective.  What I am saying is that the material difference between an original and a duplicate is NOT subjective, and whatever value people derive from that difference is entirely personal.  I have seen “The Persistence of Memory” in person at the MOMA.  Would I personally pay whatever millions it would be worth to own it?  Fuck no.  Would I have traveled to a museum to see a bunch of high quality image files of the same artwork?  Also no.  
 

There is no material difference between the linked file NFT of a meme and a meme I copy and paste here for free.  There is no material difference in the thing a person owns.  The problem I have with NFT stuff aside from the obvious environmental issues is that a subjective value is being attached to a nonexistent material difference.  The person who paid half a million dollars for a meme and I have the exact same rights to the image.  

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Cool, a set of basically NFT trading cards went for $16.9m at auction.

 

cryptopunks_9_punks_larva_labs_nfts_at_c
WWW.THEVERGE.COM

Including one rare "alien" punk.

 

To put that in prospective, the most expensive Pokemon card went for $360k. Magic card? $250k. How about a 1909 Honus Wagner baseball card? That went for $3.12m. However, this collection of randomly generated pixel art sprites made in 2017 just blew those all out of the water.

 

Beeple's work was totally worth it as an artist. These? Just what are we doing?

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