When thinking about NFTs, or Non-Fungible-Tokens, there’s a lot of questions about the value of them – does it have any value besides the hype? After all, one can simply screenshot the piece of art in question and you can look at it on your phone in perpetuity.
The real question is – does anything have any value besides the hype, or the communal agreement of that value?
Fiat currency is valuable only because we all agree that there is a utility to the transfer of goods and services. The Mona Lisa is only valuable because of the story we tell ourselves about our history and what it means for something to be “original.”
Value is subjective.
So is the story we tell ourselves about ourselves.
NFTs might be mainly hype right now, but isn’t that a perfectly acceptable form of value?