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by VHRanger 1696 days ago
Artists are marks in the NFT scam, paying large NFT minting fees with very few actual NFTs being sold to recoup costs.

It's not like artists are lacking ways to monetize apart from NFTs. If a popular artist can extract value from their art through it, more power to them, but the median artist is losing money from the enterprise.

2 comments

Given that the majority of the NFT ecosystem is running on Ethereum which still has the gigantic fees that come with swapping tokens, purchasing tokens, staking them and minting an NFT, the artist will end up losing more money than they actually put in and will sit with their unsold NFTs forever or will sell it in frustration at a loss.

Adobe knows it is a scam. That's why they are merely selling shovels to fuel the hype and they win regardless if the would NFT market crashes.

You don't need to mint on Ethereum. I'm there are cheaper options.