I spent hours yesterday trying to look up what NFTs are and never got a clear answer

[SupaDupaFresh]

In a nutshell, its a virtual asset that is authenticated by blockchain technology to trace and claim ownership.

It'll make more sense in the next few years, when the cost of VR headsets and AR glasses become easily affordable and we're all plugging into photorealistic Google, Facebook, Microsoft virtual spaces, spending virtual money, buying and owning virtual assets, including art. The technology behind it allows you to truly "own" and claim a virtual asset. The people invested in this shyt are anticipating the future of tech.

And no NFTs aint easy money for any Joe Schmoe who wants to make a million bucks selling MS Paint pieces.

 

[Kenny West]

This makes the most sense. NFTs are a actual thing but this idea that they're going to be the next big investment or currency is scam shyt pushed by losers like Gary vee

Its a bit of both, it really is a huge technology that empowers creators and will have more interesting applications in the future. Its a huge boon for digital artists rn

But I agree as of right now the creators are banking off a lot of shytty art that seems to be arbitrarily valued. The buyers are hoping for them to have some type of intrinsic value based off their exclusivity but I don't really see it. Seems like a modern money laundering scheme to me

Better to buy Ethereum or Looping tokens which power the whole space and think of it as a NFT stock

 

[Genos]

In a nutshell, its a virtual asset that is authenticated by blockchain technology to trace and claim ownership.

It'll make more sense in the next few years, when the cost of VR headsets and AR glasses become easily affordable and we're all plugging into photorealistic Google, Facebook, Microsoft virtual spaces, spending virtual money, buying and owning virtual assets, including art. The technology behind it allows you to truly "own" and claim a virtual asset. The people invested in this shyt are anticipating the future of tech.

And no NFTs aint easy money for any Joe Schmoe who wants to make a million bucks selling MS Paint pieces.

Having a virtual item makes it more worthless as it can easily be replicated. Yeah it might not be "official" but functionally a pirated digital item is the same as an "official" one

 

[CarltonJunior]

I immediately saw it as a scam. Celebs can make good use of it by selling dreams, but digital artwork is worthless. It's funny, Tory Lanez dropped a NFT album and it was leaked and pirated on the internet instantly like every other album. There's no value to "owning" that album whatsoever.

Bitcoin and other cyptocurrencies make sense theoretically and especially now since companies are starting to accept it for payment.

 

[Standing on business]

The thought process of an NFT is not a scam and is most likely probably the future. I suggest you learn as much as you can about blockchains and NFT’s.

However I think them Microsoft art looking pics that’s getting flipped for millions right now is some bullshyt that will eventually fade away.

 

[dangerranger]

I think right now how NFTs are presented is what’s throwing people off bc it’s shown as a way to benefit artists in terms of simply selling their art and the ability to get royalties.

the real utility of NFTs will become present when companies starting using it. Companies will show the usage of NFTs because it will be something like an access badge that will be consistently working for you in the future. It’ll be a status thing like gold, silver, bronze membership. So let’s say you have a conference to pay to go to. Instead of buying tickets you will buy a NFT. This NFT might give you early access or a chance to buy tickets earlier than everyone else. But it won’t only be for the conference this year, it will work for the next year and the next year. If you can’t go the following year, you could sell that NFT to someone else. Obviously the company planning the conference will get the royalties from that as well.

maybe you can’t afford this NFT so you will buy another cheaper NFT that gets your regular admission. Or you can buy an NFT for virtual remote access etc.

The NFTs that will last are those that have utility. Meaning it gives the users something of value not just once but repeatedly.

 

[Family Lives Matter]

Another CAC scam

 

[RARI_Godwind]

I got 6 certs! All of them NFTs