After watching this video im fully convinced that NFTs are a SCAM

[Raiders]

What part of nfts are a scam to you? And what's your defenition of a scam.

This video is mostly about NFTs in video games. Even I'm anti NFTs in video games, but for art, photography, music I'm pro nft

I think the scam part is the over inflated cost that isn’t sustainable, not to mention the fees/cost to create one.


Start off with a mania of this new market where non tangible silly pics are selling for millions of dollars.

Folk are flocking there hoping they can earn a lot too, what’s $20 to create an nft that could sell for a lot of money. That $20 adds up, folks are racking in crazy money of network fees alone.

same with these mania coins like shib, they convince enough folks to throw $20 in for this dream of hitting it big.

a scam is just a dishonest scheme, a scheme is just a plan. By definition I would say that it is a scam, as there are folks behind the scene planning all of this, as none of this is organic growth, and it’s dishonest as the value isn’t there for the product and I believe it’s just here to collect fees.

 

[Kuwka_Atcha_Ratcha]

I think the scam part is the over inflated cost that isn’t sustainable, not to mention the fees/cost to create one.


Start off with a mania of this new market where non tangible silly pics are selling for millions of dollars.

Folk are flocking there hoping they can earn a lot too, what’s $20 to create an nft that could sell for a lot of money. That $20 adds up, folks are racking in crazy money of network fees alone.

same with these mania coins like shib, they convince enough folks to throw $20 in for this dream of hitting it big.

a scam is just a dishonest scheme, a scheme is just a plan. By definition I would say that it is a scam, as there are folks behind the scene planning all of this, as none of this is organic growth, and it’s dishonest as the value isn’t there for the product and I believe it’s just here to collect fees.

But not all NFTs are expensive. That's like saying Cars are a scam because lambos are expensive

 

[beenz]

Problem is you see it as a scheme. And photographers and artists see it as a way to distribute the art they make

I understand this. but there are too many people taking generic images, and using computer programs to make them slightly different and then offering them as new NFT's. its horseshyt.

 

[beenz]

There are dummies that think that about thousands of different ventures. There are multibillion dollar institutions investing heavily in blockchain.

the blockchain technology is legit.

but pretty much all the shyt crypto coins are worthless. I think the crypto is bullshyt, but the blockchain technology behind it is not.

 

[JJ Lions]

Exactly.

Like I said I remember when people were downplaying the internet in the 90s.

I remember when people were downplaying blurays.

Shut I remember people downplaying HD TVS and calling them a scam

Lol those things have absolutely nothing to do with NFTs, will get to the other stuff later

 

[Kuwka_Atcha_Ratcha]

I understand this. but there are too many people taking generic images, and using computer programs to make them slightly different and then offering them as new NFT's. its horseshyt.

Can you give me 5 examples of said projects? Also in everything including traditional art there's nonsense

 

[Kuwka_Atcha_Ratcha]

Lol those things have absolutely nothing to do with NFTs, will get to the other stuff later

Of course they don't, the point is anytime new tech pops up people say it's a scam.

 

[Kuwka_Atcha_Ratcha]

the blockchain technology is legit.

but pretty much all the shyt crypto coins are worthless. I think the crypto is bullshyt, but the blockchain technology behind it is not.

Agreed, but fiat currencies are also as bullshyt as crypto

 

[beenz]

Can you give me 5 examples of said projects? Also in everything including traditional art there's nonsense

yes, let me go scour everywhere to prove a point. here's one video that discusses this.

 

[beenz]

Agreed, but fiat currencies are also as bullshyt as crypto

u can think this, but dollars still have value regardless of not being backed and can readily be exchanged for goods and services. can't buy shyt with etherium.

 

[Mike Nasty]

Of course they don't, the point is anytime new tech pops up people say it's a scam.

You're interchanging the fad with scam.

 

[Kuwka_Atcha_Ratcha]

yes, let me go scour everywhere to prove a point. here's one video that discusses this.

You don't have to scour, just mention the projects you've seen

 

[Kuwka_Atcha_Ratcha]

You're interchanging the fad with scam.

Nah I'm saying anytime something new drops people call it a scam. Everyone in this thread calling nft scan yet have never been scammed by NFTs

 

[Kuwka_Atcha_Ratcha]

u can think this, but dollars still have value regardless of not being backed and can readily be exchanged for goods and services. can't buy shyt with etherium.

If you have ETH in your coinbase you can pay for real world things with your coinbase app. But I hear you though

 

[Mike Nasty]

Nah I'm saying anytime something new drops people call it a scam. Everyone in this thread calling nft scan yet have never been scammed by NFTs

I've never been scammed by a pyramid scheme, that doesn't mean there are no pyramid schemes