[unfocussed_mike]

6-7 figure amounts selling something of no worth to people who on average do not have any comprehension of it and which opens them up to fraud and scams. Great.

If an artist friend of mine sells an NFT I am going to struggle with continuing to see them as a friend, because it's morally bankrupt.

If a non-technical artist comes to you and asks for help selling an entirely phantom product to their presumably only-averagely-technically-aware fans, why would you get involved?

Anything that introduces non-technical users to crypto -- which is really the main function of NFT exchanges at this point -- is a moral hazard.

This is why I am so shocked to see Stripe involved with it.

[makeee]

Would you consider an artist who sells a series of limited edition prints to be morally bankrupt? How is doing this via the blockchain any different (besides catering to a customer base who prefers a digital format)?

[rosndo]

I don’t get it. How are my friends morally bankrupt for selling NFTs to people like Will Smith or Dubai royalty? Same people who are buying their art to hang on their walls.

It’s not like NFTs brought them a whole new audience, it’s just that their existing audience wanted NFTs.

You might think NFTs are worthless, but the exact same argument goes for easily reproduced physical works of art.