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by COINS NEWS 116 Views

A lot of people hear or read the word NFTs and directly start thinking of JPEGs and collectibles completely ignoring the fact that the concept of NFTs wasn’t initially built for that.

NFT have a lot of utility, a lot of which is still untapped into cause all of the resources are going to overpriced JPEGs that cost hundreds of millions of dollars.

And a lot of time this isn’t cause of demand. Its simply cause the creators/owners artificially inflate it to make huge profit.

This is not to say that I’ve never held or flipped NFTs. I’ve actually minted more than a couple after Polygon enabled minting for zero fees entirely. So I can actually make a decent profit off of what Polygon did.

So this was just disclosure so I don’t sound like a hypocrite. So the main point of what I’m saying is that while JPEGs can be profitable, they shouldn’t be our sole and only focus cause NFTs have other utilities that can make way more wealth in the long term.

submitted by /u/ryuk_luvs_apples
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