Thanks for the article! I'd be interested in what your take is on Music-specific NFT marketplaces such as NFT (for example Sonido https://www.sonido.io/)? Would love to read an article on that.
By "IP" I assume you mean IP address. If one can verify that a particular IP posted a unique NFT, why is it immensely valuable or the original question, why does it have any value; other than the answer that it's worth what the marginal buyer last paid for it? Also, any update on your ZCash view?
Intellectual Property, not IP addresses. Regarding why it has value... It depends on the NFT. Here's an example: what if Disney decided to sell fractional ownership of the character Elsa through NFTs? What would those NFTs represent? That's entirely up to what Disney would write in the smart contract. But let's say as an example it was royalties for anything that Disney decides to license with Elsa's likeness; like dolls or kids shirts. Disney could pay a small fraction of those licensing fees to the NFT holders who buy the Elsa NFT. That's IP. Now, the big companies that have the valuable IP aren't doing this yet. But they could. Because most of these jpeg NFTs are broadly about community building. For Disney, it wouldn't fundamentally be any different from giving shareholders a dividend. The expectation right now for all of these new artists is that down the line, they will reward their NFT holders with things like special membership perks. Think access to VIP tickets or exclusive songs. It's still super early. And a lot of the NFTs that went bananas last year probably don't have real intrinsic value. What I'm trying to do is find the NFTs that I think will have value down the line. That make more sense?
Thanks for the article! I'd be interested in what your take is on Music-specific NFT marketplaces such as NFT (for example Sonido https://www.sonido.io/)? Would love to read an article on that.
One question that I haven't seen addressed with NFTs, music, jpg or any kind: why do they have any value at all?
The simplest answer I can give you is NFTs are verifiable IP. Some IP has no value. Some of it is immensely valuable.
By "IP" I assume you mean IP address. If one can verify that a particular IP posted a unique NFT, why is it immensely valuable or the original question, why does it have any value; other than the answer that it's worth what the marginal buyer last paid for it? Also, any update on your ZCash view?
Intellectual Property, not IP addresses. Regarding why it has value... It depends on the NFT. Here's an example: what if Disney decided to sell fractional ownership of the character Elsa through NFTs? What would those NFTs represent? That's entirely up to what Disney would write in the smart contract. But let's say as an example it was royalties for anything that Disney decides to license with Elsa's likeness; like dolls or kids shirts. Disney could pay a small fraction of those licensing fees to the NFT holders who buy the Elsa NFT. That's IP. Now, the big companies that have the valuable IP aren't doing this yet. But they could. Because most of these jpeg NFTs are broadly about community building. For Disney, it wouldn't fundamentally be any different from giving shareholders a dividend. The expectation right now for all of these new artists is that down the line, they will reward their NFT holders with things like special membership perks. Think access to VIP tickets or exclusive songs. It's still super early. And a lot of the NFTs that went bananas last year probably don't have real intrinsic value. What I'm trying to do is find the NFTs that I think will have value down the line. That make more sense?
Still very long Zcash. Bought some more at $94.