Arvida Byström

Greater Fool, 2021

Video
00:12 min
Edition: 3 + 1AP

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Edition:
Does money warp and obscure our relationship to objects? During the late 1990s there was an economic bubble in teddy bears called Beanie Babies. T...

Does money warp and obscure our relationship to objects? During the late 1990s there was an economic bubble in teddy bears called Beanie Babies. These were sold at an astronomical price point, only to completely lose their value around the millennium. If you removed the teddy’s tag on the ear it lost value on the secondary market.

The greater fool theory is a vital part of an economic bubble. The theory refers to when you buy an object speculating that there will be an even greater fool that buys the object at a higher price. The risk will always be that you are the greatest fool, and in the end will sit on overpriced tulips or teddy bears you do not want and cannot get rid of without losing money.

Contract Address: A.20187093790b9aef
Token Standard: A.1d7e57aa55817448
Token-ID: 11232-11235
Blockchain: Flow
Metadata: Centralized

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