Beeple Mania
Yesterday I was talking with a friend of mine to try to wrap our heads around what&#x27;s happening, and we can&#x27;t help but feel that a lot of this NFT hype is based on FOMO and the craving for having something unique with high perceived value: like, everyone wants a Black Lotus, without having to wait 30 years to find out that there&#x27;s actually people that have also some emotional investment into these items, and are willing to pay some big money to have a piece of that...<p>... yet apparently there are &quot;Black Lotuses&quot; everywhere, because people are making them left and right (not literal black lotus ofc).<p>And we left it here:<p>- are people mistaking something &quot;unique&quot; with something that&#x27;s &quot;rare&quot;?<p>- is money really that much inflated?<p>- is crypto that much inflated?<p>- are these transactions being done among the same &quot;kind of people&quot;, and it will reach a cap eventually with no one to dump these NFTs to?<p>It&#x27;s like people want collectibles but seem to have decided to cut off a big part of what makes a collectible valuable. Everyone want&#x27;s to get rich with the next big rare item, without having to go through years of cultural shifts.<p>For example, some MTG cards&#x2F;sets represent a time and a place for many people, they were part of a culture. The rareness comes from the fact that a lot of these items had limited (some were literally alpha and beta versions of the game), and few endured the weight of time and life.<p>It&#x27;s not because they have a unique id.<p>Cryptopunks represent the early move of the NFT... but is that such a noteworthy valuable thing? Maybe it is.<p>I&#x27;m not saying that Beeple isn&#x27;t a good digital artist, he is. Neither I&#x27;m saying his art isn&#x27;t worth what people paid for, probably it&#x27;s worth it.<p>Yet, some how, can&#x27;t help but feeling that something is off. Or it&#x27;s just me that I&#x27;m just not getting &quot;the thing&quot;?