Quote from: NotATether on Today at 03:33:04 AM

I still do not expect Ordinals to last for a long time, but it will crash like NFTs. (and we will have James Jani probably make another video documentary about that - crazy how people have not learned their lessons with NFTs).

NFTs are the new altcoin, which are the new bitcoin... A lot of people still believe bitcoin is a ponzi scheme. But the truth is, the situation is a lot more complex than that, for all 3 entities.

A lot (the vast majority) of NFTs are produced for the sole purpose of making their creator money -- no doubt about that. Same thing with altcoins. Yet there are still some NFTs that have real-world utility, just like with altcoins... even if that utility is just being a collectible.

I've been going on about it for close to 2 years here now: there is a legitimate demand for some NFTs as collector's items. There are also flippers looking to sell them to other flippers and collectors at a higher price than which they bought them. This is true in every area of collectibles.

Like Bitcoin did for money, NFTs are an attempt to recreate a physical good in the digital realm. They are ownable, transferrable, and often immutable (though not always).

A lot of it is very silly with valuations driven purely by well-oiled hype machines. But sometimes they are just endearing to collectors, who want to own one simply because it makes them feel good to know that its in their wallet.

Case in point, I'm about to make a trade for one of these Bitcoin NFTs... Its my second and I have no plans to sell one, I just like knowing that I'll have 2 of them:

Is it silly and stupid? Perhaps to a lot of people. But the point is, there is a legit market for a lot of this stuff, driven by legit demand from collectors. As Bitcoin grows more popular, so will the collector base for such items (including at least some Ordinals).