Farcaster

What is the point of minting someone's work? (honest question)

Minting seems to be a mix of bookmarking, sending money, and publicly liking something. Yet it's a strange bundle that does a mediocre job at each of these 🤔

Please help me make sense of web3 🙏🏼

Freelance software engineer, developing https://healthlearn.org, altruist, learner

Great question

it leads to value being sent and created that otherwise wouldn’t have. 

So when you’re sending money as you say, it’s a context where you wouldn’t have done that otherwise. 

In return, you get an object back. It’s a memento that may also accrue value over time.

Thanks, that's thoughtful!

Isn't the counterfactual something like patreon.com? Many people create/send value that way.

Accrue value over time... maybe that's the point I'm missing? Why would an NFT accrue value? It's literally just a link to an image/video file. It has no intrinsic value in most cases.

I want privacy and the freedom to do what I want, when I want, and where I want as long as I am harming no one. Why is that so much to ask? $BTC $XMR $ANON

Dorsey's tweet NFT is pure hype/speculation, isn't it? It has no effect otherwise; it's not as if Twitter showed a message like "this tweet is now owned by foo.eth"

For a writer's inheritance, I think what matters is intellectual property (copyright). NFTs don't have this legal value.

Dorsey sold his first tweet NFT for 2.9 million. Didn't hold that value though. However I believe that since the next generation of famous writers, activists, & philosophers, will be digitally native, there won't be any hand written letters or rare manuscripts to auction off after they die, instead there will be NFTs.