[Jeddostotle7]

Quote:

Originally Posted by Thatannoyingguy

I feel sick in my stomach when I see NFT and I dunno why. I don’t even know what NFT is supposed to do. Can anyone explain what NFT is to me like I’m a second grader?

Y'know that old scam of the guy who would "sell people the Brooklyn Bridge", or more accurately, a certificate saying they owned it that wasn't actually backed by anything at all? Or more recently, those sites where you could pay to "get a star named after you", but of course it was bullshit and no actual official body was recognizing it?

Imagine that but it's also a "bigger fool" investment scam where the objects being ostensibly bought and sold are art/collectibles (usually randomly-generated and very bad looking), trying to get around the inherent lack of intrinsic "collectibility" of digital goods due to infinite duplicability and thus no scarcity by tying it to a special digital certificate that is the thing you're actually buying, but that "certificate" is basically just a link to the image and the link will most likely be dead within a year or two as the site hosting it goes under, and also the system it works on is insanely energy-hungry by its very nature.

The NFT/crypto market already crashed back in 2022, so it's baffling that anyone's still trying to make NFTs happen these days. Except Todd, it makes sense Todd would still be trying to push 'em. He's that kind of dope.