Can someone explain the point of NFTs?

[winb83]

These things died fast. Nobody talks about them anymore. Seems like a few years ago they were "the future"

 

[DPresidential]

A digital certificate of authenticity for a digital good is a scam?
The applications are endless and gamers have been buying digital goods for decades.
What about recording contracts, employment contracts, court orders, so many other important life effecting documents?
I feel like at this point, the debate is even pointless. This isn't the future. This is the present. This is where we are and it's only going to grow from here.
People are going to have to adapt or get left behind clinging to their VHS tapes because all the debates aside, the global market has been heading this direction for years now and it's too late to complain it into go another direction.

I really hope you didn't leverage your children's future on Capcom rival schools NFTS, breh.

 

[Grand Conde]

A digital certificate of authenticity for a digital good is a scam?
The applications are endless and gamers have been buying digital goods for decades.
What about recording contracts, employment contracts, court orders, so many other important life effecting documents?
I feel like at this point, the debate is even pointless. This isn't the future. This is the present. This is where we are and it's only going to grow from here.
People are going to have to adapt or get left behind clinging to their VHS tapes because all the debates aside, the global market has been heading this direction for years now and it's too late to complain it into go another direction.

 

[Kamikaze Revy]

I really hope you didn't leverage your children's future on Capcom rival schools NFTS, breh.

I didn't buy a single NFT. The only thing I ever supported was the technology itself, not those trash drawings dummies thought they were going to buy for $500 and flip for $5 million. I'm glad the hype around it died.
Right now the new "scam" is ChatGPT and AI. Everyone rushing in thinking they are going to do zero work and become a millionaire.
It's always the knee jerk reactions that get the most attention in the short term and then that same crowd gets eerily quiet when they finally see reality.

I don't know why a lot of people think an NFT is actually a drawing.
NFT technology is useful, what people were doing with it and how the public fell for the banana in the tail pipe is a seperate issue.

 

[Kamikaze Revy]

Reading back through the thread it's painfully clear people are ignorantly conflating the NFT technology with the worthless projects and digital assets people applied an NFT to.
This is like someone selling you a pet rock, you realizing they sold you a rock, and then saying "you see! ROCKS are a scam!".
The distinction between the two has been explained pretty clearly in this thread so I just have to believe that people are willfully ignorant and have their minds made up.
I guess the problem is how "NFTs" vs "Projects that had an NFT assigned to it" was communicated en masse.
PC games have had serial numbers for ages. There was a time (I'm not sure if they still exist) you could download a serial key generator and play "cracked" games...same with any kind of software with serial numbers, we used to do it with music recording software.
NFT technology is basically a security token that you can't fake or duplicate. That ability/technology has a WIDE range of utility in a digital marketplace, and in that USEFUL utility, you have some "scammers" that caught on how sheeplike people are and slapped "NFT" on digital trash leading the uneducated to say "NFTs are a scam!".

 

[Rekkapryde]

Reading back through the thread it's painfully clear people are ignorantly conflating the NFT technology with the worthless projects and digital assets people applied an NFT to.
This is like someone selling you a pet rock, you realizing they sold you a rock, and then saying "you see! ROCKS are a scam!".
The distinction between the two has been explained pretty clearly in this thread so I just have to believe that people are willfully ignorant and have their minds made up.
I guess the problem is how "NFTs" vs "Projects that had an NFT assigned to it" was communicated en masse.
PC games have had serial numbers for ages. There was a time (I'm not sure if they still exist) you could download a serial key generator and play "cracked" games...same with any kind of software with serial numbers, we used to do it with music recording software.
NFT technology is basically a security token that you can't fake or duplicate. That ability/technology has a WIDE range of utility in a digital marketplace, and in that USEFUL utility, you have some "scammers" that caught on how sheeplike people are and slapped "NFT" on digital trash leading the uneducated to say "NFTs are a scam!".

 

[Kamikaze Revy]

 

[Rekkapryde]

 

[winb83]

The vast majority of NFTs are now worthless, new report shows

Two years after tech trend that swept up artists and celebrities, researchers estimate 23 million people hold worthless investments

www.theguardian.com