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I think art is as much about status as it is about enjoyment, if not more. Spending big bucks on NFTs buys you a status of a fool IMO but depends on the crowd I guess.

At the end of the day I suspect both are ripe for money laundering schemes

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Amazing how almost all the commenters in every HN post about NFTs completely miss this aspect of art collecting and complain that "it's not art" or "it's pointless". With these NFTs, it's all about flipping them for a profit which will buy them whatever status they want.

Just take a look at the transaction history of any NFT going around on OpenSea. Here's an example of an NFT selling for 30ETH (~$50,000) just three days after it was bought for 1ETH (~$1690). Not affiliated with CyberKongz.

https://opensea.io/assets/0x495f947276749ce646f68ac8c2484200...

> I think art is as much about status as it is about enjoyment, if not more.

Which is exactly my point, to you, they are fools, to them, it all makes sense.

But who is them ? Art is accepted as a high class thing pretty universally. Do NFTs really compare ?

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