[luka-birsa]

So basically: NFTs are a scam since the early adopters are not very good artists. And there is no unique value in them since its just Pepe memes, which are stupid to be NFTed, since it's just Gifs?

Oh and let's not forget about the Ethereum fees and how shitty the tech is.

This really reminds me on how everybody perceived internet in early noughties, when everybody was telling me it's shit and it will never ammount to anything.

Man they were right, there was literally no value, just like there couldn't be value in standardized mode of exchange for digital goods - it doesn't have to be Pepe GIFs only.

[benrbray]

ELI5: What can NFT achieve that a combination of Twitter + public key cryptography cannot achieve? As far as I can tell the only benefit is "decentralization" and just like BTC, the average user is beholden to bank-like entities for all their transactions anyway, so you get all the cons of existing monetary systems without the insurance.

[olouv]

trading?

[benrbray]

generate new keys and announce it on Twitter

[jimhi]

Critical thinking says NFTs could work for say reselling tickets or something where you need to transfer the proof of ownership.

The NFT Art market as it is seems to be about equivalent to the real world autograph market. It is likely vastly overvalued and the current sales are just people buying and hoping they can sell for more later like a Beanie Baby

[thinkingemote]

The early web was a bubble that burst. Yes it also reminds me of that time.