When life gives you lemons...

you dump them after two hours? 💀

/new-york by day 🗽 /untzuntz by night 😈 Fan of eating tacos and bringing people together, often at the same time 🌮

do you think that piece of media is worth >$70k?

@base builder #001; onchain cities w/ OAK & city3

No I think it's worth $0, it's literally a picture of lemons that Dan took. It's only notable because it was created by someone notable and notable people should think twice before launching liquid coins on the open market regardless of how easy apps make it to do so. No reason for it to be an ERC-20.

it's definitely not worth $0. dan's last NFT mint did $70 in primary sales, so that's a floor. this is a new format, so there's some memetic value to that. it's currently sitting at $100k after some reasonable price discovery, so that's also a strong signal it's not $0.

Okay so then answer your own question: do you think that piece of media is worth >$100k? If so what makes it worth that much? Why should people buy into it? What is the inherent value of Dan's lemon photo? Should people hold it indefinitely?

probably not. but it's worth something. 

I am not speculating on this asset. i just like having it. if other people want to speculate, they can do that and over time it will find its market price.

people should buy it if they want it (intrinsically). or if they think they could make money on it (extrinsically).

I think that there's a non-trivial number of people who just want it intrinsically, which would establish a floor on the price. not 100% sure what that is, we're in the early days of finding out.

i like that it's a nice photo dan took and that he put it onchain, which makes me feel more connected to him and it. i have collected lots of his things because i like them in the same way.

people should buy however much they want. i usually buy round numbers of ETH, depending on a mix of how much i want to support the person and how much conviction i have in the thing being a positive contribution that i want to be a part .

i expect other people will have their own answer. i think products like zora can help by setting reasonable defaults.

What do you like about having it? Do you like it better than a non-tokenized photo of fruit that you see on Farcaster? Assuming people want it, how much should they buy? ERC-20s make it tough to just buy "1", way more confusing than NFTs