Oh, it’s totally baffling.
It seems like almost no NFT sales have actual, proper provenance, outside those made through existing art sales venues (e.g. the auction houses). For most, “provenance” at best amounts to an internet rando claiming to be the creator of the work, but there’s usually nothing backing that up beyond the person promoting the sale elsewhere, e.g. on a Twitter feed or the like. But some marketplaces are made up entirely of rando NFTs where there’s an implicit - and sometimes explicit - understanding that the sellers have no connection to the work. I’ve seen some references to prices of NFTs sold through these rando marketplaces, where, for instance, someone sold a tweet for over $600 - which was notable largely because the tweet was then immediately deleted. That’s not typical, but I saw a small marketplace that claimed an average price of around $80 per rando NFT. There are minimum minting costs, so prices would start around $30-$40 and go up to well over $100. The fact that anyone, at any time, is willing to pay even dozens of dollars blows my mind.
