The value is in possessing a scarce and "authorized" representation of a popular thing.
The use of the word "authorized" seems artificial in this context. I agree with you on scarcity and popularity being a requirement. But authorized seems off. A first edition Harry Potter book isn't authorized, it's just real. Forgeries are just fake, they aren't "unauthorized".
Another thing I learned from Pawn Stars are that things that were manufactured for collecting often are valueless. Harry Potter was written for the purposes of telling a story. It became popular because many people enjoyed it. First editions of the book had a natural progression to scarcity and popularity. On the flip side, Disney manufacturers "collectibles" all the time but they often are worthless. NFTs seem to be manufactured for collecting. Will they be more popular than Beanie Babies ended up being?
Well sure, like art or wine. But not all art or wine.
I think all NFTs selling for large dollar amounts are for tax dodging.
The use of the word "authorized" seems artificial in this context. I agree with you on scarcity and popularity being a requirement. But authorized seems off. A first edition Harry Potter book isn't authorized, it's just real. Forgeries are just fake, they aren't "unauthorized".
Another thing I learned from Pawn Stars are that things that were manufactured for collecting often are valueless. Harry Potter was written for the purposes of telling a story. It became popular because many people enjoyed it. First editions of the book had a natural progression to scarcity and popularity. On the flip side, Disney manufacturers "collectibles" all the time but they often are worthless. NFTs seem to be manufactured for collecting. Will they be more popular than Beanie Babies ended up being?
Well sure, like art or wine. But not all art or wine.
I think all NFTs selling for large dollar amounts are for tax dodging.