, the video game retailer that introduced much of the world to the concept of meme stocks in early 2021. But what matters in both cases is that a band of online outsiders began building up and trading on a
In contrast, artworks and crypto assets are valued purely on sentiment and supply. Analysts can appraise; it’s just that the worth of these correlations remains forever subjective. Nowhere in the makeup of a painting, an NFT, or a cryptocurrency can we find anything as straightforward and universal as the value of a dollar in corporate cash flow.
The point is, while artworks and crypto assets both have little to no intrinsic value, only crypto assets thrive on trading volume. That means crypto entrepreneurs’ best chances for success rely on building audiences similar in size to those of corporations. Art entrepreneurs, on the other hand, can still make healthy markets by winning over a few thousand elites at most, and in many cases only a few hundred.