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RE: Meme NFTs

in #nft4 years ago (edited)

It's a collectible scarcity thing. Think Magic The Gathering cards or POGs or Pokemon cards. They have stuff like that on those markets, and each item has so many iterations that are trackable, so might be wise not to compare these to plain ol' digital files like JPGs or something that you can copy ad infinitum. In other words, if only 50 of a particular NFT exist (whatever it is), and if one person got a bunch of them, he can burn some of them to make that particular item even more rare, and thus possibly more desirable making the price go up. I don't know much more about them than that, but I intend to change that.