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I don't hate NFTs, but I appreciate the backlash because people who like NFTs seem to misunderstand them MASSIVELY. Some NFT haters also seem to misunderstand
by solarkraft 5y ago
I don't hate NFTs, but I appreciate the backlash because people who like NFTs seem to misunderstand them MASSIVELY.
Some NFT haters also seem to misunderstand them, however, so let me throw yet another explanation attempt into the ring.
Anyone can make an NFT for anything. I can make an NFT for the Mona Lisa or whatever the hell I want. What do you get when you buy it? Absolutely nothing. I can make infinitely many too.
NFTs get all of their value from where they come from, a bit like autograph cards.
One from some rando on the web? Worthless. One from Eminem? Hmmm, maybe more interesting.
I do think NFTs can have some value for artists and art collectors. But always remember that an NFT's value comes from its creator and what they do, say and commit to. One possible option would be that an NFT entitles you to listen to ("own") a piece of music (my favorite use case because I love buying things on Bandcamp, but would like to be able to resell stuff at some point).
That's an interesting use case, but nothing close to what NFT zealots dream of.