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The crypto market has a tendency to get way ahead of themselves. I am in the NFT space, and yes, we all realize this (well, most of us). What the haters don't r
by dumbfounder 5y ago
The crypto market has a tendency to get way ahead of themselves. I am in the NFT space, and yes, we all realize this (well, most of us). What the haters don't realize is that a market can exist without them. The market doesn't need you to validate it. If people attribute value to something then that's the value. Period. Pokemon card collectors don't care that you think that Pokemon cards are stupid. That said, there will certainly be digital houses of cards built that do fall.
There are many terrible problems with NFTs, and a lot of these problems are being worked on. The initial hype could not possibly last. It was fueled by crypto zealots and people that want to get rich.
I also believe there is a lot of long term value to be had, but in order to realize that long term value the NFTs will need to deliver actual intrinsic value to the NFT owner. Some examples of this may be: an NFT that unlocks access to special content, and NFT that also serves as a DAO to determine future art created, an open world (metaverse) that tracks ownership of digital goods using NFTs. All of these things already exist, of course, but the decentralization part is what makes it new and different. The future we see is creators not relying on Apple, Amazon, or other massive corps to control their content, to put much more of that control into their hands. Same with the purchaser's of said content. Transparent, trusted, interoperable, verifiable transactions.