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NFT Art = US$69,000,000

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In many ways the whole NFT craze isn't even art, yes it can help some artists do well and make money with which to fund future works, but the person who buys the NFT simply gets a claim that "I own this", they don't even guarantee getting a lasting copy of the artwrok. The art isn't stored within the blockchain, just the claim to it, so if bad things happen and all that survives is the blockchain, the artwork you have a claim to will have gne anyway.

NFTs as holiday gifts - of course  ???

When you understand that beyond a certain amount (not for us poor lads, unfortunately), money becomes virtual, it makes sense to use it to buy bullshit virtual art.

True, but in this "recent" trend, the prices are not astronomically stupid; from the cited article...

--- Quote ---The image he bought for around $200 is in the form of an NFT, a one-of-a-kind asset that exists digitally.

--- End quote ---

Seems to me that it is being mass-marketed. For some reason it reminds me of paying to have a star named after you....look honey, I bought you a non-fungible token :)

I see no practical difference between an intangible NFT and the previous craze for star naming.
I have spent money on tangible art and on pdf downloads of useful text, as well as on membership to art museums that thereby grant me unlimited entry to view the exhibits.


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