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/biz/ - Business & Finance

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29744451 No.29744451 [Reply] [Original] [archived.moe]

Why is everyone so bullish on NFT's?
You can't even profit (buying early) from them since their are by definition non fungible.
What is so big an entry into a distributed ledger, that you own some (digital) picture or anything else for that matter?
Or are they only bullish on the fungible tokens of the projects in the NFT space?
Can someone explain this to me?

>> No.29744681

That’s because we’re still in early stages and people only do retarded tamagochis, trading card games and other collectibles with them.
There are countless promising usecases (albeit, currently it’s hard to imagine them being successful in the short term) think car registry, real estate, all of these things in the blockchain and tamper proof.
For a real use case that already had adoption check out GET protocol, nft event tickets, not even shilling, it’s just a good example.

>> No.29744684

>the artwork is the only one in existence
Right click, Save Image As...

It's an absolutely ridiculous concept for artwork

>> No.29744723


If you haven't figured it out yet, the whole crypto space isn't about the growth of cooperatives and businesses that build value for society, it's a fucking zoo of narcissistic, money grabbing shit heads, it's a casino full of teenagers who dab on each other whenever they swindle some more money out of each other, it's for people entirely driven by emotions and irrationality and the fear of looking inferior when they express any level of concern about what a smoking shitpile the space is and if they can find a way, any way possible to find another route to gain money in this zero sum mania driven financial warfare, they will do it and NFTs are just another metastasisation of this financial cancer

>> No.29744834

You mean NFT's right now? Like JPEG's with a price? Its a scam, mostly for money laundering and investment oppertunity for whales.

>car registry, real estate, all of these things in the blockchain and tamper proof
Yes NFT's will have many use cases in the future but what a lot of low IQ people dont understand is that buying these useless and scammy NFT tokens wont give you a return on an investment and when the future use cases come private companies wont be selling tokenized blockchain networks to sell to the public as an ERC-20 token.

Basically NFT's have future use but not monetizable for investors. Currently NFT's are just JPEG's put onto the blockchain, thats literally it. Its a weird craze, similar to when people used to collect Mcdonalds happy meal toys because it would be 'worth millions as a collection in the future'.

>> No.29744856
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>> No.29745454

i don't get it either. I can understand why DEFI is useful, but why the fuck would i buy digital artwork when i can just copy the image lol

>> No.29745518
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yeah it could go places, but why should the plebs be able to profit from it?
I mean if you want to buy a game, you don't go to game stop and buy it physically but you download it on some website and buy a key to be able to activate it.
Isn't buying that key literally what nft's want to be?
I just don't see the big thing here for personal profits.

I saw even michael burry tweeting about how big NFT's will be.

But maybe it will all be a failure just like the STO hype

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