NFTs and value

7 Min Read

I’m sitting at my desk, typing furiously on the keyboard, wearing headphones, and the background music for the text on the screen is by Grimes. It’s more than just words. Those are some really well-written words. I’m writing an article about what NFT is and what it used to be. I couldn’t think of anything. What words may be used to describe NFT? How to explain what it is, and, more importantly, why the world’s investors have began to discuss the three letters with the same zeal with which they previously described stocks and art investing?

Yes, after several weeks of writer’s block, I’m now in a decent flow. Now I can express it, and the words come to me on their own. And nothing is going to get me out of it. I don’t think I’d notice if the Russians dropped a bomb on my little Nordic nation. I’m completely at ease. I’m in a groove, and nothing can shake me out of it. I think so. I’m so caught up in my own world that I don’t notice the creaking of the door as it opens or the small children’s feet slinking over the creaky wooden floor. But then a baby finger hits me hard on the shoulder, yanking me out of my meditative state. “What’s up, son?” I almost yanked my headphones off, irritated at being yanked out of my flow: “What’s up, son?”
“Dad, may I have a Vbox?” asks the little child, followed by, “There’s just the most wonderful skin in the world, and nothing would make me happier than having it.”

How Fortnite terrorized an entire generation of parents

I glance at my son, who has a dexterous facial expression that would make even Bambi say, “No, this is just a little too much.” My son is well-known to me. He’s looking for something from me. “Okay, if you can explain why you want them, you may have them, but there must be excellent justifications,” I reply as I swivel the office chair. “The game has begun.” “Well, dad, there’s simply the most relaxed fortnightly skin in the world for sale right now; he’s the Star Wars bounty hunter, and I want him SO much, but you can only have him right now.” It is no longer available for purchase tomorrow.”

They’re good at marketing the Epic Games, but a father’s arguments are better: ”Well, son, do the skins do anything in the game?”
”No.” His answer comes directly and without hesitation.

”So you do not get better weapons?”
”Will you be faster than the others in the game?” ”No.”
”Well, does it affect your game in any way?” ”No.”
”Ha!” I thought. Now we had just clarified that he could easily play Fortnite without any Vbox.

“No, you cannot get more Vbucks that you can use on skins that have no value whatsoever. They do absolutely nothing for your game itself. Do we agree?”

He looks at me intimately. It is like he hears my words, but it is as if we speak two different languages right now, and then he says the words that fundamentally would change my way of looking at value and investing:

“Dad, skin does not do anything for the game, and it may be that you think it is a waste of money, but dad? It means something to me. My friends and I collect them.”

And there it was… It meant something to him. He was willing to exchange his syrup-earned pocket money for a digital costume. And then I started crawling down the NFT rabbit hole, and one thing was for sure: I was no longer in Kansas.

And in that second, the father knew why NFT has a value… And a short story about the value

I instructed my son, Leander, to purchase Vbucks. Because I couldn’t think of a good counterargument to: “It means something to me.” It’s something I collect.” It has intrinsic worth because it signifies something to him. Is it any different for Picasso, Dali, or other painters whose paintings sell for millions of dollars? Apart from signifying anything to the consumer, what intrinsic worth do they have? As a result, they gather it? I’m writing these things under the light of my amber PH Lime Amber lamp, which I purchased for $1100. Now I find that the identical light I bought three months ago was sold for $5,000. What else can explain this price increase other the fact that it signifies something to someone who is ready to pay for it? Most significantly, it is a one-of-a-kind piece. And now I’m beginning to realize what NFTs are. So allow me to clarify.

Grimes is deep down in the NFT rabbit hole.

manner by her crypto-friendly spouse Elon Musk) has just sold 10 artworks created in conjunction with Grimes’ brother, Mac Boucher, at the WarNymph Collection Vol 1 auction. Two of the works, Earth and Mars, were made available as large editions at a set price of $ 7,500 (£ 5,400), and each sold around 300 copies in the 48 hours they were on sale. The future is NFT. NFT will be around for a long time. And I’ll explain what it is in the next few articles. So relax and enjoy the ride.

more about Web3 here

Follow Metaverse News anywhere we publish, Twitter & Instagram

Share this Article
Posted by Alex Vartmann
Web3 guru, and enjoys sugary liquorice.
Exit mobile version