NFTs: The Scam of 21st Century
NFTs are considered the wealth assets of the 21st century. Why shouldn’t it be? They are something you bought for money. They are something you might be thinking of a great career in. You are having proof of ownership of the NFT. Wow great! It all looks charming. Where is the problem then?
I think that the problem isn’t in the concept of NFTs. Rather, I think it is in the loops formed by the NFT marketing. I will try to explain my claim. Let’s consider that you bought something new that was not bought previously by any person in the past. Furthermore, you purchased it for a great price. Now, this will make a headline for sure. That’s the power of money. You don’t need marketing here. The words of mouth from various influencers are trying to make your thing even more expensive. It’s because people believe in Influencers. Influencers believe in headlines. Headlines are affected by money.
If people believe then it’s worth otherwise just stupidity. The same thing happened with the NFTs. People started to think that the NFTs are great. We can’t consider them anyway a method to respect the art. They can verify the ownership of any image. But they will probably be used to create the great values of simple things among the people. They are used to convert a new type of assets that are just images for the purpose…….
They are without any purpose. Why would you like to invest in a new asset or a form of an asset without any purpose? It was and not is an asset. It is just an asset made by the media for you. Real things have some purpose but this isn’t having anything.
One last thing about NFTs that must be considered by anybody before paying a “Gas Fee”. On the platforms like Opensea, the users are anonymous. There are high chances that the different users that purchased or sold an NFT can be one person or a group of persons. It’s sufficient to make great headlines and loot people based on the “Gas Fee” collected by showing great earning dreams.
Even it may be considered a type of “Lottery Blockchain Model”. This is like collecting great fees in the name of minting on Etherium and then purchasing stupid images. This generates branding material for future business.
If a person cares for the art why he/she don’t just go to the writers who are waiting eagerly to sell their art. People want to purchase digital art, which results in branding done by some people to develop a new business.
It turns out that there isn’t any way by which I can confirm the authenticity of these claims. But these things must be considered and taken into the care of before entering into NFT space. They are images and have a maybe future(as claimed by many people). I rather see them as a headline-branding-gas-lottery business model.
I think that the future will be environment conscious not like the global impacting Blockchains ruing the mother Earth and confirming an image’s authenticity. Is it the future!
It depends on the perspective of a person to look at any object. You may think it to be valuable. I might think of it as a scam. Think before investing in anything. Keep yourself safe from new types of scams in the 21st century.
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