What is the true nature of the NFT bubble

This is not the argument you think it is. That’s why I linked to Thomas Struth’s auction records in my first post. Notice how many times the same motifs come up for auction. That is not the same artwork being bought and sold repeatedly, it is different collectors selling their respective editions. I.e. a copy.
If you’re an art collector with a fuck off expensive photograph on your wall (there are Thomas Struths worth nearly $2m) you will in most instances not be the owner the IP. The artist (or their estate) still owns that. You own and edition of that work, as certified by your, er, certificate.

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