Stonks Are What You Can Get Away With: NFTs and Financial Nihilism
> While NFTs are not sure proof of a physical Birkin bag's authenticity, they all but ruin the economic incentives of counterfeiting.I disagree. It means you get to have your cake and eat it too -- you use and wear out the authentic Birkin bag for years, a bag you got almost for free because you bought a cheap counterfeit and resold it together with the NFT while keeping the original.If anything, it seems like this could increase counterfeiting because this would seem like such an... obvious scam to pull.Indeed, I can even imagine the NFT being resold 10 times, each and every time the person thinking they got an authentic bag, buying a counterfeit and reselling it as authentic... when the only person who kept the actual authentic bag was the one who bought it from Birkin.This is the fundamental problem with NFT's as I see it -- there is fundamentally no way to tie it to a physical object. Every owner can always sell a counterfeit and keep the original.So the idea that this "ruins the economic incentives of counterfeiting" doesn't seem to hold water at all.