[blunte]

If you look at this NFT stuff along with the many other absurd things humanity is busy focusing on, one might deduce that Roger Waters was exactly right with the phrase,

"But on eliminating every other reason

For our sad demise

They logged the only explanation left

This species has amused itself to death"

NFTs are mostly used as a ponzi game. There's not enough physical art or exotic cars or other collectibles for the moneyed folks to trade, so now they have NFTs.

This, plus the stories of groups and corps buying up homes, negative interest rates, etc., all suggest that too much money has been concentrated in too few places (hands, people). And those people seem to be focused primarily on just making money, so they need vehicles like NFTs as another place to play. It's just mind boggling where humanity has ended up.

[WalterSear]

> This species has amused itself to death

> NFTs are mostly used as a ponzi game. There's not enough physical art or exotic cars or other collectibles for the moneyed folks to trade, so now they have NFTs.

IMHO, it's more likely that the heart of the NFT economy is based on capital flight, money laundering and black money transfers, and outright fraud based on wash trading: fraud that's dressed up to look like a Ponzi scheme so that the buyer thinks they are in on the grift.