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this post was submitted on 17 Aug 2023
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It's a way to prove that someone gave/sold you some/all rights to some "thing". Which would be important if anyone cared, but no-one does ... with the exception of those who once thought that someone cared and are trying to recoup their "investment" by deceiving others.
Images are dumb its the literal worst use case anything with direct ownership has a good use case for nft, probably needs a rebranding.
Right, NFTs are just cryptographically secure receipts... Which is cool and all, but we've been getting by with non-cryptographically-secure receipts for a very very long time, so it's kind of just a waste, and probably a misapplication of the technology.
Nfts are bragging rights, like having an original painting. You get to show people you have money by spending it on something extravagant but basically useless.