I didn't intend it as 'investing' advice. Regardless of recent crashes, all NFTs are valued (by at least one person) infinitely higher than they 'deserve'.
That's incorrect. Most NFTs don't sell. This you see with the naive giving away their NFTs on Twitter after hoping minting NFTs of their art would finally help them to get somewhere. A large chunk of the ones that do sell are being bought by the artist themselves to save face or attempt to spark demand.
That’s a pithy axiom, but it ignores the reality that people are often willing to pay because of misunderstandings, inadequate information, fraud, lies, and cons.
Maybe on the idea of market prices being inherently just, and every transaction being implicitly fair, that your statement implies?
Does a senior manager at a big corporation, when accused of sexual harassment, deserve a $90 million golden parachute? While someone who quits their job to care for their severely disabled child deserves nothing?
Asking what people deserve is a fundamentally stupid question in the context of valuation. Whatever your idea of “fair” is, it has basically no bearing on economic valuation, which is governed by the laws of supply and demand.
