I'll be honest here, I barely get the concept of this at all, but from what I've gathered regarding it all, it seems like you can own your own unique artwork with a non-replicable encoding that gives it its own fingerprint if you will, thus making it impossible to copy ---> but apparently people can just screenshot it and render it useless? There's some people saying it's not true and then some more, but I just don't think that I'm tech savvy enough to tell whether they're being legit about this or not. Moreover, I feel that the last time I heard something about ridiculously expensive / overpriced art works, either it had something to do with tax evasion or money laundering by the elites. So well, I dunno.
Can someone on here break this craziness down for the GAW audiences in laymen's terms? Would be much, MUCH appreciated! Cheers! And thank you! :)
In the photography community there seems to be a small group of people that understand and utilize NFTs, but there is another group that are aghast at the whole idea and are always complaining how bad it is for the environment (these seem to be far leftists). Most people like me don't really understand it very much. Your explanation helped some, so thanks.