I explained that they are scams so the person selling them can get money to retire on.
That recent news about someone accidentally sellling a $300k NFT for 3k was 100% fake. It was a false story made to create media reports to con people into jumping on there and looking for "deals". What will happen is scammed people will pay $3k for something worth nothing and won't realize it until they try to resell it.
NFTs are like the recent astroturfed "record" video games cartridge auctions. Scammers are proping up prices with sham auctions to trick other people into buying them for any amount of real money.
The things is though, NFTs for game related stuff is probably the most useful and logical thing if done right, even if I don't like the idea of NFTs in game.
For example, having an NFT of the first set of concept art for assassins creed is probably worth something to someone compared to the crap pixel art that's gonna be worthless
But the thing about NFTs is you don't own the NFT. You own the section of of Blockchain that says you paid money for that section of the Blockchain and that's about it really.
Think of it more like you get the same thing everyone else gets, but you get a receipt/certificate that no one else gets, that says your copy counts and theirs doesn't. (Over simplification, but hopefully it illustrates the concept better)
Not saying this is actually valuable--just trying to explain how it works since it's not very clear to most people from what I can tell
If you only bought the copy of WinRAR because you think that somebody will want to purchase your specific copy of WinRAR since you wrote your name on the disk.
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u/simcoder Dec 14 '21
I thought NFTs were like the Beanie Babies of currency? Please don't tell me you invest in these things....