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> I view NFTs as one of the dumbest things to come out of the crypto space. To understand the space, you need to come to terms with the fact that asking "is th
by Alex3917 5y ago
> I view NFTs as one of the dumbest things to come out of the crypto space.
To understand the space, you need to come to terms with the fact that asking "is this a legitimate human need" isn't a useful or relevant question. Instead, you need to ask, "for people who are already demonstrating that they have this human need, does this technology enable that need to be met more efficiently."
You might think the human need isn't legitimate, and it might not be legitimate, but if you think that way you're going to miss what's happening.
It's the same as the lesson from the Paul Graham and Fred Wilson AirBnB exchange, where just because you personally don't have the need doesn't mean that the need doesn't exist.
- YorickPeterse 5y agoLet's be realistic here: there's no need for NFTs other than fear of missing out, and money laundering.
- hellbannedguy 5y ago
- Guest42 5y ago1. There isn’t a need and it can’t be demonstrated via handwaving. 2. Investing in the imaginary shouldn’t be peddled by charlatans. 3. Comparing to Airbnb is inaccurate and intentionally misleading. 4. Sentences 1-2 are circular.
- ozgune 5y ago> I view NFTs as one of the dumbest things to come out of the crypto space. I see the use cases, but frankly I don’t think it’s innovative nor does it solve something in a really unique way. I think the original comment isn’t arguing that “this isn’t a legitimate human need.” I think it’s arguing that neither the tech is innovative nor the offered solution is unique.
- yks 5y agoNeed on the side of issuers obviously exists, they can make money. At the same time we see that most of the potential users, such as gamer community at large, are overwhelmingly against NFTs. So this need is clearly being manufactured, which can succeed or not, remains to be seen.
- blueboo 5y agoThat’s an extraordinarily weak and broad argument. Of course a lack of personal appeal doesn’t imply non-existence. Don’t rely on that for affirmative investment strategy! Airbnb is a useful example, though; consider its context of hotels, VRBO, couchsurfing. These are proven human needs with associated economics that starkly contrast with the precedent for NFTs - Tumblr likes and retweets.