Ep. 85 Revisiting Philatelic NFTs

This week we take another look at Philatelic NFTs as they gain traction within the community.

[@bigernie9433]

One is strongly reminded of tulips in Amsterdam in the 1630s. One future day (possibly not-so-distant) this bubble will burst, too.

[@pennyfodca7752]

😂 Gary Loew says NFT means non flowering tulip 🌷

[@thedigitalphilatelist]

Comparing the NFT market to Tulipmania is a bad comparison. They aren't the same thing.

[@bigernie9433]

@@thedigitalphilatelist They obviously aren't but the human behaviour patterns behind such bubbles are.

[@kengilbride7182]

I m older and I will always enjoy going and looking through my many albums of my stamps and getting a new stamp and adding it to my collection

[@andybusard6694]

You are not only speaking for the 20-40 demographic. This 65 you old agrees with you!

[@psarj]

I'm so very glad to hear this conversation. You hit on all of the problems I see with this technology. As you say, philately is about dealing with tangible artifacts of the world's postal systems. To me, the joy of philately, as with many hobbies, is that interaction with tangible objects, There are people, no doubt, who will collect NFT's of various kinds, including of philatelic items. But there is no reason to expect that many of them will then make the jump to collecting tangible postal items aka philately.

[@BitchspotBlog]

Which is exactly the point. What's going to keep philately going isn't people buying digital chachkies. It's people buying physical stamps.

[@marchasselbrack1536]

I think the bigger possible issue with rare stamps, is that people may have the option to destroy the original stamp after the NFT is produced and sold. This could be detrimental to the hobby if this kind of thing occurs.

[@davidcollins1333]

What I liked about this: the Bible block! I don't collect US stamps, am not specially interested in them, but that block is an awesome item! You don't need to know that much about US stamps to appreciate how special such an item must be. With a great story too; I even looked it up. Will I ever say the same about an NFT?

[@pauleagle2856]

I'm currently reading 'What Price Philately' and oh boy!, I see we can now add two more to Milbury's list of philatelic pathologies: Scratchticketoma (cryptostamps) and Phantom Stamp Syndrome (NFCs).

[@raulmenjivar6584]

Ultimately, it's up to the collector as to what they place value in. Philately is about examining, inspecting, researching a physical stamp. It's also about history, art, politics, culture. NFT's don't really offer any of that. They're popular, not because of they're collectability, but because people can profit from them greatly at the moment. They're fine for other people, just not for me, and please don't count them as philately, they belong in some other classification.

[@vkinkela]

I agree with you guys … no nfts … but I don’t think this will impact the hobby… collectors don’t look at the value but they do want to protect it… holding the physical is like gold

[@Spacestationjay]

It took me 30 mins to try and understand what an earth you guys were talking about . I had to Google it . NFT’s makes zilch comprehende! Absolute madness and I still don’t actually get it . Never want to hear about it again ! 😡💨💨💨💨😂😂

[@rickhowell7507]

So, do you take the red pill or the blue pill? Take the red pill and welcome to the Matrix of Philately. As for me, if I can't strike a match and burn it, I don't own it!

[@DW-uu1lz]

I would rather stand in the shower tearing up $100 bills then buy an NFT, at least I would get a shower with the former....

[@djs127]

You didn't explain what Philatelic NFTs are

[@ehtashamahmad3137]

Selling digital pictures of stamps or portions of them using crypto currencies. That's my view. May be wrong.

[@pauleagle2856]

@@ehtashamahmad3137 No, that's not it. People gamble real money on these too.

[@pennyfodca7752]

Watch Graham’s episode on the concept, he does a good explanation of it (Exploring Stamps)

[@thedigitalphilatelist]

There are a few types of philatelic NFTs. You have NFTs used for postal purposes, NFTs that are counterparts to physical stamps (issued by Postal Authorities and embedded in the stamp), NFTs that are just stamp art (Veve), and then general stamp NFTs which are best likened to cinderellas (Opensea and the Stamp Auction Network stuff mentioned in the video).

[@psarj]

The Exploring Stamps video referred to in this video is a useful introduction. It certainly helped me to get a better appreciation for the subject: kzbin.info/www/bejne/bWrHdZ2lhJZpa9U

[@le_med]

I want to mention also that some of the people who are throwing a lot of money (more than $100.000) is also done for money laundering or for tax benefits or tax evasion. You buy something for 100k and sell it to a friend for 300k then he pretends he lose the passphrase and now can claim a 300k loss on his taxes while getting the 300k back laundered by you minus a fee. This is not the proper way to do it but you get the point. Furbies used to sell for tons of money...nobody cares anymore. NFTs are the 2022 furbies

[@LL67561]

please fix both of your audios, very hard to hear.

[@le_med]

NFTs are the giant pile of dong that Jeff Goldblum looks at in Jurassic Park. If you don t have internet...your NFTs don t exist. It is an idiotic concept for stamps and anything where you collect things digitally is a waste. It is the same as having a playstation game physical disk or having the game only online and not own a physical copy. If the company bans your account for any reason you now have nothing when everything is online.

[@thedigitalphilatelist]

Wow...this episode had so much misinformation in it. It was kinda painful to watch.