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Yes that is not in question. What is in question is what is the utility of the NFT? From your answer it seems like its just to be an NFT. What good is that for?
by newswasboring 5y ago
Yes that is not in question. What is in question is what is the utility of the NFT? From your answer it seems like its just to be an NFT. What good is that for? Maybe try to address my baseball card vs purchase receipt analogy to make me understand better.
- mrtksn 5y agoIn practical terms, the main utility is that you can trade it. That's what I've seen from people who buy and sell NFT. They do have some other rationalisations, which I don't buy(yet). One is, it establishes your identity in the virtual communities. For example, you can buy an NFT for 1 million dollars and be known to be the guy who bought that NFT for 1 million dollars and hangs with other people who also bought expensive NFTs. I don't know if this works, the person who made that explanation to me doesn't really engage in that kind of communities and could not provide me with an example where that happens(someone else mentioned Mike Tyson being involved with something called cool cats and supposedly, he was hanging out with other owners of that NFT class but I was not able to confirm this). She simply sniffs around, finds NFT's with a lot of hype, buys some and sells for profit.