token puss nft

 Almost certainly a bubble, some will win, most will lose.

The English proverb: “A fool and his money are soon parted” dates to the 1500s. The tech is new, taking advantage of a gullible public is as old as time.

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NFT are asset tags at the end of the day (see image below).
You can buy a roll of real-world asset tag stickers for a few dollars.

Lets say you bought a piece of ‘junk art’ from your local charity shop for a few dollars, then walked down to your local stationary shop and got a roll of asset tag stickers, also for a few dollars. You place a random numbered sticker on the back of the art and now that the art is ‘tokenized’ you want 20 thousand for it. That’s NFT ART.

Ask yourself the simple question, would you have bought the art without the electronic (NFT) asset tag sticker, for 20k? No, then don’t touch it.

From what I can tell, people buy art like they buy stocks, which seems to hold a high degree of randomness. As such, it would stand to reason the results will be highly random, with luck playing a disproportionate component.

Remember, the difference between skill and luck is the ability to reliably repeat the outcome. Any fool can get lucky, but it takes genuine skill to produce consistent positive results.

Asset tag stickers:

 There may be an element of luck in the market but nobody is compelled to sell something if s/he is not happy with the price offered (depending on the need for liquidity). I do think that some people have overpaid for NFTs but, again, nobody has to buy something unless s/he thinks it’s worth it in some way to their individual value judgement. It certainly seems to be a very volatile market.