Actually NFTs do have a couple of great niche markets right now... But all the hype has it wrong.
NFTs are great say for games where you can redeem your token for say an in game piece of armor. They are also great for player made content because each time somebody trades/sells that NFT the creator will get a nice kickback.
They are also very good for digital ticket sales. I mean how many people have been ripped off by the scam artists over at Ticketmaster...
They are absolutely god awfully terrible at being "art". The NFT doesn't actually mean you have any ownership of whatever it is representing. It also has nothing legally binding within it. So right now with all the hype and FOMO it is scam city. However there is certainly some really good applications of NFTs.
Sorry for my ignorance, but what is NFTs?
NFTs?
Actually NFTs do have a couple of great niche markets right now... But all the hype has it wrong.
NFTs are great say for games where you can redeem your token for say an in game piece of armor. They are also great for player made content because each time somebody trades/sells that NFT the creator will get a nice kickback.
They are also very good for digital ticket sales. I mean how many people have been ripped off by the scam artists over at Ticketmaster...
They are absolutely god awfully terrible at being "art". The NFT doesn't actually mean you have any ownership of whatever it is representing. It also has nothing legally binding within it. So right now with all the hype and FOMO it is scam city. However there is certainly some really good applications of NFTs.