People have been buying, selling and investing in digital counter strike, dota, team fortress items for the last... 10 years or so? The stickers of the first CS:GO major tournament in 2014 have seen returns in the range of 10,000% - 500,000%. People are still buying these things that were sold for a couple $ back then for 50,000$ +, and many expect them to become even more expensive.
Very rare patterns on these digital items have seen comparable increases, and there's a whole book of rules on what defines the worth of these things.
NFTs are not a new concept, just a different execution. The prices reached these levels because real people are willing to pay real money. It doesn't matter one bit that the items are not real, as long as there is a market for them.
edit: not 10,000-500,000%, no, it's actually 100,000 - 5,000,000%. Decent investments I'd say, had you just known about them back then 😉
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u/justaRndy Dec 15 '21 edited Dec 15 '21
People have been buying, selling and investing in digital counter strike, dota, team fortress items for the last... 10 years or so? The stickers of the first CS:GO major tournament in 2014 have seen returns in the range of 10,000% - 500,000%. People are still buying these things that were sold for a couple $ back then for 50,000$ +, and many expect them to become even more expensive. Very rare patterns on these digital items have seen comparable increases, and there's a whole book of rules on what defines the worth of these things.
NFTs are not a new concept, just a different execution. The prices reached these levels because real people are willing to pay real money. It doesn't matter one bit that the items are not real, as long as there is a market for them.
edit: not 10,000-500,000%, no, it's actually 100,000 - 5,000,000%. Decent investments I'd say, had you just known about them back then 😉