[heavyset_go]

I have to wonder about the effects of the essentially useless economic activity that the NFT market creates. No real value is created, yet absurd amounts of value are invested in it.

China already banned cryptocurrencies. Meanwhile, not insignificant portions of the US tech sector along with investors, including retail investors, are investing time and capital in the cryptocurrency and NFT scam markets.

[debesyla]

I guess you could say that NFT's are a game like collection, gambling? So in this way NFT's create a value of being fun novelty?

[heavyset_go]

I'd be worried about the global competitive capability of an economy that has so much literal investment in what amounts to gambling, especially when companies, institutions and investors are investing billions of dollars in digital assets that are akin to playing cards at a casino.

[fleddr]

Well, these investors do have some bigger vision regarding NFTs, or crypto as a whole.

The idea being that we live in a rapidly digitizing world (software eats the world) where everybody has a smartphone. To them it seems an inevitability that you have a digital wallet holding your assets, whether they be physical or digital.

In your case, it won't have a JPEG, which you consider gambling. But it might have concert tickets, a token of your favorite football club, assets from a game you love to play, or even the proof of ownership of your real estate.

I don't know how and if this vision will materialize but that's the big idea. Your concern that companies and institutions are invested in digital assets (specifically NFTs) is misplaced, the actual gambling is done mostly by big crypto holders.

[Ekaros]

It's funny to think we have reached point in capitalism where there is too much capital. I wonder if there is any underserved actually profitable places to put it at least in the west...