Would be cool to have some sort of well defined "bubble-mania-meter" but it is unfortunately quite subjective.
The role of scarcity is something interesting to consider as input. Scarcity (perceived or actual) is more natural with tulips or anything that is a tangible, real object.
NFT's tortured way of creating "digital scarcity" sets them, imho, apart from other bubbles. Given how much of modern life revolves around digital they are probably the forerunner of much worse to come.
strange but true, scarcity comes in different sizes. Is the infinity of NFT's the same as that of paintings? How many types of infinite junk are there? Or is this infinite itself?
Sorry to bring you the bad news, but your lifetime is (likely) finite and each brush stroke takes away a bit of that precious finite time.
In contrast, while digitally reproduced crap is also fundamentally finite, it can be replicated gazillion upon gazillion times more without any effort or sacrifice.
This is the so-called zero-marginal cost of (re)production [1]. Some people think its a blessing, some people think its a curse.
With AI algorithms it gets even worse. You don't only have infinite copies of the original, you also have infinite variations of the original.
The role of scarcity is something interesting to consider as input. Scarcity (perceived or actual) is more natural with tulips or anything that is a tangible, real object.
NFT's tortured way of creating "digital scarcity" sets them, imho, apart from other bubbles. Given how much of modern life revolves around digital they are probably the forerunner of much worse to come.