Whenever I research about non-fungible tokens or NFTs, all I get is some images of characters or cards which remind of fantasy cards which are popular among kids and gamers. Not everyone is kid or a gamer and I am not really interested in collecting those digital images at all.
I am not saying there aren’t people out there who would like to buy and hold NFT but I don’t think there is a mass appeal for that. Ok I get it that every NFT has some uniqueness about it due to some crypto hash on blockchain but so what? I could screenshot it or use windows sniping tool and just create a copy or replica. Yes there are people who would like the original and unique one and would bay hundreds of thousands of dollars for it, but I don’t have and I am not interested in spending that kind of money on images.
May be I am missing something a a newbie. Please enlighten me if I am as I will be highly obliged and indebted to learn more about it. Of course I would like to earn from NFT on blockchain but I need to understand and see the value first. Yes may be some day we will be selling some real value assets like houses as NFTs but I am sure it will be highly regulated and won’t be much different how we do real estate these days. I still believe in blockchain technology and I am sure it will be a big thing in future but it needs some real world uses cases especially in third world country like Pakistan.
Someone said that, “If artwork is worth millions of dollars and our lives increasingly take place online, then there’s no reason NFTs and digital art shouldn’t also command significant value.” But how many in general public spend that kind of money on artwork? Unless an inflationary monetary system is creating a casino where people feel the “need” and to outrun their money being devalued and will take risks anywhere.
Everything requires energy to operate. The phone you tweeted this tweet from included. We shouldn’t demonize Bitcoin, NFTs, lights, phones or anything else for using energy. We should be working to ensure the energy that is used is clean. That’s where our attention should be. It’s not about whether it requires energy or not. It’s the fact that ETH transactions require a LOT of energy. An amount that’s very unhealthy. If people want to be in denial about the environmental cost of ETH transactions and the frequency due to NFTs, that’s on them. That’s just one point of view.