Tascha Che

av

Krypopredikant som blant annet er kjent for den knuste diamanten:

A diamond has two functions:

  1. Real-world utility as jewelry & industrial tool
  2. Store-of-value asset

When I create a NFT for the diamond, which is a token in a computer network that denotes an amount of value & ownership, I transfer function 2 to the NFT. I can still wear it as jewelry or use it as a cutting tool. But I can no longer sell it or use it as collateral for borrowing. Those belong to function 2, which has been transferred to you, the NFT owner.

Say you have a house. It got burned down but you still have the deed. Will that piece of paper be worth anything? No. But NFT is different b/c the agreement about the asset is different. The agreement in real estate is that the house is the asset, NOT the deed, which is but a paper record about the asset. On your balance sheet, it’s the house being counted, not the deed.
With NFT, the token IS the asset, not just bookkeeping of some other asset. When I mint the diamond NFT, the asset part of the diamond’s value is transferred to the NFT.  Work or production cost is NOT the essence of what makes an asset, a.k.a. store-of-value. At the end of day, you only need 3 conditions to qualify as a store of value (SoV):
  1. Limited supply (diamonds are hard to dig, NFT programmed and enforced by code)
  2. Durability (very durable mineral and decentralized blockchain ledger)
  3. Social agreement (diamond is pretty and/or useful plus the above, NFTs bootstrapped by forming strong communities, or transferred from other established asset classes).

NFTs work better as assets than diamonds. Diamonds: You have to clean them, store them in a safe and worry about people stealing them. They are less liquid: You have to find an “expert” to check they are real, tell you how much they are worth, find a buyer and handle shipping. NFT is better. Transactions are tracked, ownerships verifiable, interactions with other assets programmable, and all done with low cost and high security. You don’t need a warehouse for it or suffer physical depreciation.

I bought a $5000 diamond and did not use OpenSea’s shared contract for minting, but had to learn how to code a ERC721 from scratch. First it wouldn’t deploy to main net, but after raising the gas price, it went through. But this contract cost me $3219.97 to deploy. Ultimately, psychology is what supports the prices of gold and bitcoin. The same will apply to the NFTs that manage to survive the bubbles.

Diamanten ble solgt for 5,5 ETH ($18 700) den 11. september 2021, og har siden ikke skiftet eier (17.04.2022).

Andre kjente utsagn:

Layer-1 blockchain staking: the base layer of a new global financial paradigm. As L1 chains integrate with real economy, staking yields will replace government bonds as the benchmark assets of global financial system.

NFTs will thrive because they help solve the global asset shortage problem in an ingenious way— through mass participation in asset creation.