Quote:
Originally Posted by Clayton
I consider cryptopunks to be a weird modern combination of tech + art + collectibles (beanie babies being one of the most classic collectibles examples). With regards to the beanie babies comparison, what would the price of beanie babies be today if there were only 10,000 ever created?
I think the answer to that question is that beanie babies would be have astronomical value simply bc people like to collect and own things that others think are valuable. Even today, some of the rarest beanie babies are extremely valuable.
All of the above is an oversimplification -- beanie babies probably never would have generated enough awareness to become valuable in the first place had they been extremely limited in production.
The good news for punks is that the world is different today and I can at least envision a world where the vast majority of people have heard of them and even if they think they are stupid, know that some people will pay a lot of money for them, which is what's needed to create/hold value.
I think the collectibles / art NFT stuff will mirror the real world -- most stuff is worth essentially nothing, but some people will pay unbelievable sums to own stuff that's perceived as the best or most important.
disclaimer - this is not investment advice and I'm talking my own book.