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Generally I don’t understand the hype or use behind NFT’s. Can someone explain?

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by COINS NEWS 90 Views

Ever since NFT’s have come on the scene I can’t see them more as a JPEG.

I know that’s not the case, from seeing comments in the past.

I understand in a way that there’s some positives behind such as ‘ownership’ and you could perhaps buy music via an NFT but again I don’t see the case (aside from the artist getting 100%)- why not just buy it or stream it the usual way, it’s much easier for a consumer.

Honestly I probably just don’t understand the technology behind them properly and that’s why I can’t get my head around them, so just wondering what other people think or if they can educate me (and others).

I’ve enjoyed the Reddit Avatars and such that’s been given away, but can’t say I’d go out and buy one, and most people seem to clamour for the drops so they can sell them on to make a profit.. which seems a little against the point of the drop. When I read about designer NFT’s in games, it just doesn’t seem any different to DLC.

I see the value in a painting by Rembrandt say and the money behind that, I struggle with a digital image of a monkey and why it should be worth $24m..

Cryptocurrency and such it’s more obvious the potential of adoption, the technology use that has benefits and the investment side of it is hugely appealing. NFT’s I just don’t seem to ‘get’..

submitted by /u/jeanlucriker
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