Can someone explain to me NFTs
Explain to me what NFTs are in the MOST depth explanation since the internet definition isn’t doing anything.
Explain to me what NFTs are in the MOST depth explanation since the internet definition isn’t doing anything.
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Google cant help but DBD forums can?
This NFT will make my collection look so much better.
Going for 9 bjillion dollars, name is "notanothershittymonkeynft.png".
They're very complicated but NFTs are non-fungible tokens which basically in the best way I can explain, are artwork that you can purchase and claim you own while other can still use it or something to that standard. Pretty much, NFTs rely on cryptocurrency that takes up a bunch of energy to make that it is detrimental to the health of the environment. It pretty much has no benefits to combat the gigantic downsides they have.
Give me 10 million for this dot a drew on paint and i will send you a reciept saying you own it.
One word; pointless.
Think of it this way: NFTs are for buying the ability to SELL a product. Not to OWN a product.
Which means yes, the actual "product" itself is totally pointless. It's why you see so many crappy NFTs. I could literally go on MS paint, draw a smiley face, price it high and then it'll have value.
If you don't have proof that you have the rights to sell the ability to sell product (eg: You made it (in the ms paint situation) or you've bought it as an NFT) then you cannot sell the rights to sell it again.
That's why the "Right click - save image" meme (while funny asf) doesn't actually have an effect, because nobody cares about the product itself, only the rights to sell it from an official source.
So yes, there is literally zero point in NFTs other than money. Literally zero.
If you want the "product", just right click and save.
3 of the main reasons why NFTs are bad:
If I made any mistakes feel free to correct me, this is just how my brain understands them.
Art that Hold no legal value, screenshot them if you want, or you can buy them for 17 million dollars if you want to let the world know your dumb.
It's pretty much the digital version of the kid at elementary school lunch who says all of the bouncy balls are his and you need to give him your lunch if you want to use them
Oh yea he also the guy who insults the teacher than calls her a “poo-poo head” when he can’t have animal crackers after nap time.
Imagine if hook camping earned you "camping coins", and you could pay camping coins to be "the official hook camper of Dwight's present outfit" and nobody else could be "the official hook camper of Dwight's present outfit" unless you sold that honor to them for camping coins. This would not effect Dwight's present outfit in any way.
Slight correction: NFTs are not the art itself, but a receipt of transaction. It's tantamount to the "I gave money to this charity" stickers that restaurants and chain stores will often give out when asking for a dollar at checkout.
Yeah yeah true. My bad.
I know you know, it's just that OP doesn't :P