Re: Popular and Lucrative Ordinals Bitcoin NFTs- Where are my Ordinals Experts at?
Whereas the Ordinals junk is just junk and it is worthless because unlike things like fiat it has no utility.
Something doesn't have to have utility to have value. For example, these regularly trade between $80k and $250k:
Its just a token with an invalid pointer to a json file. The image isn't even embedded in the blockchain or stored anywhere permanent. It offers no utility to speak of, yet it fetches a high price in open markets because it is desired by collectors.
While the value of many (even most) Ordinals up for sale is indeed driven by Ponzi-nomics and will trend toward zero, some of them will retain value among collectors; especially the first Ordinals of any significance. Their significance and value exists independent of your or my opinion.
Good point! The first editions of anything for the most part if they're popular to some extent generally trade for higher values then any other versions. I think this is also pretty much the case with Ordinals, and we're still pretty early!