NFT stands for Non-Fungible Token. Something that is "fungible" can be exchanged with an equivalent item -- for example, a $5 bill with another $5 bill. Cryptocurrencies, which use a digital public record of transactions called a blockchain, are fungible. NFTs are digital items that can be bought and sold using this blockchain technology. But they are not fungible, making them a different type of asset. Some have sold for millions, including an NFT by digital artist Beeple which went under the hammer at Christie's in March for an eye-watering $69.3 million So why have negative motives to this, there's a alot to this, If you have no knowledge about it, ask questions and get enlightened and stop hating blindly.
I work for a crypto company. I assure you my belief that current NFTs are stupid is not a result of being uninformed. A "digital item" is a misnomer in most NFT cases as the rights to the "representative component" of the NFT are not actually part od the NFT itself.
It’s a glorified receipt that contains a url which points to an image. And you can pump the price up with fake sales activity by selling the item between wallets a single entity is in control of.
your opinion
Best way to understand NFT is star naming scam analogy. NFT is akin to a record that says a star was named with your fiances name.
NFTs are the New Fraud and Tricks
lol :👏🏻
Are NFTs used for anything besides money laundering
Can you tell me why an APE NFT is valued at millions of dollars rather than say 10$? If your answer is, “that’s the price someone is willing to pay”, then it’s clear that the moment that someone decides they need the money (e.g. recession), the price will plummet and you will be left holding the bags. NFTs are a cool technology and can achieve a lot of things based on smart contracts but I’m against pumping them upto such high prices.
Stop spamming Blind with multiple identical posts. Go search for sheep somewhere else.
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Lol, try minting and selling NFT yourself and you'll see how it all works :)
This is not the point, i know all that. Investing in it is the point
How does one try this for themselves? Any tutorials/blogs you’d recommend?