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The one application of NFT's that I really like is CryptoKitties. Basically you can buy some NFT's and then "breed" them to mint new NFT's. The problem with th
by _fat_santa 4y ago
The one application of NFT's that I really like is CryptoKitties. Basically you can buy some NFT's and then "breed" them to mint new NFT's.
The problem with that project and really all NFT projects is that they are way to expensive. If a CryptoKitty could be had for $5-10 then it would be a fun game, but when each NFT runs you into the hundreds and thousands of dollars, it stops being a game and starts being an investment vehicle.
It would be like if Magic the Gathering sold individual cards for $150 and to build an entire deck you would need about $10k. If that were the case, MTG would not be a popular game and everyone in it wouldn't be in it for the game, they would just hope their cards go up in value.
TL;DR - NFT's can be a great thing, the prices just need to come back down to earth.
- freejazz 4y agoCyrptokitties are worth "hundreds and thousands of dollars" because they are being used to launder money. There is no other reason.