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submitted 1 year ago by fer0n@lemm.ee to c/technology@beehaw.org

TL;DR: The NFT market has drastically declined since its peak in 2021, with most NFT collections having no value. There's an oversupply of NFTs, leading to a buyer's market, and environmental concerns due to energy consumption. Top NFTs also struggle to maintain value, and the future of NFTs depends on utility and genuine value rather than speculation.

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[-] Pons_Aelius@kbin.social 5 points 1 year ago

Has an NFT as proof of ownership ever actually been tested in a court of law?

Until it does, the claims the NFT shills make mean zero.

[-] jarfil@beehaw.org 1 points 1 year ago

I don't think you understand: a DRM-locked digital content doesn't need, or care about, "a court of law" to work or not with a given key.

Instead of listening to the shills of GIF NFTs, centralized app/media shops, or centralized governments, try to think about what the technology actually means.

this post was submitted on 24 Sep 2023
93 points (100.0% liked)

Technology

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