Tom Droege, who runs Stamp Auction Network, sees that NFT's of stamps might be the best way to bring a new generation into philately.
As for myself, I prefer building my Scott International Volume One classics collection which has now been split into two binders and includes a nice US #1 and a penny black, along with a few favorite areas in Scott Specialty Series albums.
NFTs are a scam IMO and not just when related to stamp collecting. They are an attempt to draw more people into crypo currency ownership in the continued search for a greater fool to keep things going up.
NFTs aren't even what they pretend to be. They are at best a record that a transaction occurred and are not the asset(usually an image) and don't prove that someone had ownership when they minted the NFTing. NFT marketplaces are already full of NFTs minted for artwork the minter didn't own the rights to.
It's a load of crap. You're getting people to pay for things that aren't real with no control over the supposedly "real" thing. NFTs and crypto are a tax on dumb people. Some are making money off of it by taking advantage of the terminally gullible.
Wow, whoever wrote up this auction description for Spink can really pile it on. So I take it that this is a physical fragment to which you get to own some X's and O's in your "digital wallet." Well, isn't that special!
NFT could very well mean that that what you really get for your money is "Not an F'n Thing." But that doesn't mean you can't ride it to profits if you know what you are doing and want to play that game.
I have heard Bitcoin referred to as "a limited amount of nothing." Still I wish that I had 'bit' on some when it was available for about a dollar. But I'm neither a gambler nor a speculator and would rather live in reality, no matter how tough that might get.
There was quite a speculative stamp market in mint, never hinged, Western European stamps in the 1960's with stamp shops being raided by stamp speculators -- I dare not call them collectors -- for undervalued stock.
The Tonga "coin" stamp monstrosities were another thing that went for some crazy prices at the time.
Now, with countries such a Germany, it's not surprising to go to the latest Scott catalog and see the values drop some nearly every year. And Western European stamps of that era seem to hold the lowest catalog values among their country's issues.
Ummm I think of not only Bitcoin but the Euro too Either way not valuable in my hands Don't appreciate them the way another might Not to say I'm not going to get some, Sadly I gotta say though I feel it's the future, They sell there hobby to the market way better
I just can't imagine actually enjoying a collection like that. If you wanted to collect interesting online images why not just use Pinterest for free? It must be more about the "pride of ownership (or partial ownership)" of these little pixilated images. "trust me, it's worth something I swear!" Like a really geeky chest-thumping exercise. Of course, I could be a pot calling the kettle black.
With Facebook and Google working to create a 'Metaverse' there may come a time in the near future where some people spend a lot of more of their time in that world and these NFT's may end up tying into that "lifestyle". Whether this is the ground floor or an early bubble is just speculation at this point. I studied computer science back in college in '87-91. I remember we would have to get and submit some assignments by using kermit/ftp into the colleges mainframe systems. One professor spent much of his class time droning on about the future of computing. We were dumb college students and should have paid more attention to what they were telling us, we could have gotten into the ground floor of something huge, most did not. Whether NFT's have any relation to Stamp collecting is debatable, but like the birth of the internet 30 years ago, something is changing and people can either make it happen, watch it happen, or wonder what happened. At this point in my life I'll probably just be watching....
Everything only has value if someone else wants it. I wish I could get paid for my movements as much as Beethoven did. At least you could physically hold the real thing. The old story that there is one born every minute now should be updated to there is one born every nanosecond.
NFTs only work for 1 of a kind items. What good is an NFT if 100K plus people have the real thing. If the post office ONLY releases NFT versions from now on, then we are stuck. Won't happen.
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Posted 01/24/2022 11:23 am
