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If you make and sell NFTs you are smart. If you buy and hold them you are a fool. [1] In the end, no one actually cares about disrupting the art collecting mar
by over_bridge 5y ago
If you make and sell NFTs you are smart. If you buy and hold them you are a fool. [1]
In the end, no one actually cares about disrupting the art collecting market. It's a passion project for zero people. Most hyped NFTs are based on memes and if memes are famous for one thing, its making a big splash and disappearing forever. If they were an investment then their value should increase over time. I try to imagine 20 years from now, will owning a cryptopunk or bored ape make you relevant, or the equivalent of a boomer? "Back in my day all the cool people called themselves apes and used these expensive pictures. Ok granddad" New memes will always displace the old ones and NFT values will decay as the hype and relevance of their specific meme does.
That said, I don't think NFTs are quite ready to be thrown out as a technology but their current utilisation seems like a poor use case. I'm a proud right clicker - or would be if any of those NFTs were worth saving a copy of.
[1] some will definitely make money and be outliers who fuel the FOMO that burns everyone else