Re:NFTs will never go back to how they were in peak 2021.The...
by lisasays on Monday April 24, 2023 @01:40PM
(#35690751)
NFTs are great if you need cryptographic proof of ownership.
Until people started pushing them to represent the exact opposite -- to represent something that looks like "ownership", except it isn't of course (where you get to "own" the trivially reproducible JPG of a painting rather than the real thing). Or for things (like dinner table reservations) where proof of ownership is plainly overkill (to the point of absurdity).
Which is basically what the NFT boom was all about from the very beginning.
Until people started pushing them to represent the exact opposite -- to represent something that looks like "ownership", except it isn't of course (where you get to "own" the trivially reproducible JPG of a painting rather than the real thing). Or for things (like dinner table reservations) where proof of ownership is plainly overkill (to the point of absurdity).
Which is basically what the NFT boom was all about from the very beginning.