I still don’t get NFTs. Not the technical part, but the why-the-hell-would-anyone-want-this part. Like, I can’t even understand the logic behind someone thinking someone else would want something like this. It seems like it should be a simple concept but my brain just hurts.
People see bitcoin/blockchain, don’t know the difference between the two, and realise other people have made lots of money on it. Same people see a new thing which also uses (or in their eyes, “is”) blockchain, and think this is going to be the new way to make money.
A crypto coin is only worth as much as the hype surrounding it, so the people holding a lot of crypto needed something beyond “you can use this to buy drugs on the internet” to generate hype.
It turns out that more than a few people investing in tech don’t really understand what they invest in, but are highly susceptible to FOMO so any tech company wanting a quick cash injection put together a blockchain/nft/play-to-earn/web3 pitch.
I still don’t get NFTs. Not the technical part, but the why-the-hell-would-anyone-want-this part. Like, I can’t even understand the logic behind someone thinking someone else would want something like this. It seems like it should be a simple concept but my brain just hurts.
People see bitcoin/blockchain, don’t know the difference between the two, and realise other people have made lots of money on it. Same people see a new thing which also uses (or in their eyes, “is”) blockchain, and think this is going to be the new way to make money.
A crypto coin is only worth as much as the hype surrounding it, so the people holding a lot of crypto needed something beyond “you can use this to buy drugs on the internet” to generate hype.
It turns out that more than a few people investing in tech don’t really understand what they invest in, but are highly susceptible to FOMO so any tech company wanting a quick cash injection put together a blockchain/nft/play-to-earn/web3 pitch.
Those that don’t know anything about it think it’s stupid.
Those that know a lot about it think it’s stupid.