Daniel · 7 answers · 2y

Do you know what NFTs are? Do you think they will be more relevant in the future?

non-fungible token. it's when you "own" something in a blockchain. I think they're just a dumb fad, and they won't become more relevant unless a more practical use for them is found.

"NFTs impart no legal ownership, give no rights to the artwork, are non-unique, and provide nothing of intrinsic value except the sign value of owning bragging rights to announce to other crypto bros about a shared collective delusion about database entries. (12/)"

https://twitter.com/smdiehl/status/1445795667826208770 (thread)

it's proof of ownership using blockchain tech. yes it can get as braindead as claiming a clipart of a colorswapped rock for any amount of money.

perhaps it'll be relevant, but as with all blockchain stuff only the officially government sanctioned standard will be allowed in the coming years.

Yeah, as far as relevance I don't know, probably not to the common folk, more likely as someplace for rich people to park (hide/launder) their money, though I maintain that money is imaginary and is only worth whatever 'people' say it's worth

Non Fungible Tokens. I think they’re a rip off at best, a huge money-laundering scheme at worst.

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