In the end, what do NFTs stand for? Images that you have a fairly convoluted way of proving you own? Except you don’t own the image, you own URL to an image. It’s like a joke that you have to explain every element of as you go – by the time you’ve reached the conclusion, the person in question has tuned out. And really, what normal person is going to do these mental gymnastics to agree that your digital art is worth something?

The Internet of Grift

I listened to two people talk about NFTs and possibly making their own. And how it’s an investment or can make them money.

NFTs are an MLM scheme.

The people at the top are pumping money and hype into the economy. Everyone else looks at the huge sales numbers and media attention warranted by the few large sales.

But what are you buying? A Hyperlink to an image file.

Buying a link. That you hope will remain working. Either because the companies hosting stay in business. Or IPFS which is Napster for Web3.

At least with Beanie Babies you had a cuddly stuffed animal.