You can think of NFTs as the digital equivalent of stadium naming: T-Mobile Park is not owned or even used by T-Mobile. But they paid for everyone to see their name attached to it. That's all NFTs do, which is not much, but it is not actually a new concept.https://twitter.com/fiddlemath/status/1442576159548399616 …
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Why is gold not required for capitalism?
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Well, _why_ it isn't required is a philosophical question I'm not prepared to answer :P _That_ it isn't required is obvious, since capitalism existed prior to the gold standard, and now continues to exist after it, so, it must not have been required!
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Sad that the mass of people buying into this have no idea of the tech and what they are buying. They buy the fiction that all the content is on the chain w/ magic not in control of the creators, they can take their item to another place. Not true but people think/wish it so.
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To me, the tech is fine. We can record "owner" of a receipt number & people can exchange it & view it publicly. Fine. But just know what you are buying. You are buy a number that represents something at a company not really different then buying a magic sword in WoW.
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