At least, taxes pay for roads and schools. What are NFTs good for?
There are two kinds of NFT takes People who stand to benefit from NFTs think they're great and promote them every way they can People who don't, think they're silly and wasteful It reminds me of takes on tax increases...
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In a way they're a subsidy from rich people to semi well known artists
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Third take: an interesting underlying technology that is a new tool for digital artists today and could one day be used for cool applications like peer-to-peer HELOCs... BUT the speculation/hype is absolutely ridiculous right now
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How do you benefit from nft? I've not worked it out yet.
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As a techie: you start a NFT platform As a VC: you invest in NFT platforms As an artist: you get rich people to buy your NFTs As a rich person: you buy hype-y NFTs early enough that you can resell them to the next person at a profit In all cases success relies on maximizing hype
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I see it as a transition to prioritizing ownership over appreciation. Another symptom of an unhealthy system.
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I don't benefit from nfts but I think they are neat, just that they are not what most people think they are. They are no different than any other token, just non-fungible. Just like stablecoins, you can redeem them for something while benefiting from existing trading platforms.
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This something being for example legendary dragon sword (+5) in a game, a cs:go rare knife or a picture in your gallery on a page. You don't own the picture, but the site that will show this picture on your page iff you have a token is close enough metaphor of ownership to matter
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I agree that nfts have a boat load of hype but there’s a lot of practical applications here. For starters, nfts can potentially solve issues regarding counterfeit in the digital space ...
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Anything can be digitized can be sold as NFT. For the first time, we can actually sell algorithm itself.
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What can a NFT do that a bearer voucher couldn't do 200 years ago? Really asking.
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