SXSW NFT Hate

Hi friends,

I’m currently at SXSW in Austin, TX. For those unfamiliar with the festival, it is a massive gathering of people in the Business, Tech, Art, Film, and Music worlds.

One common theme I’ve been hearing across many of the sessions I’ve attended and just conversations in the hallways, is that everyone here hates NFTs.

One would think that some of the brightest minds in tech and business would see the massive potential that the NFT space has, not only from a profit stand point, or a decentralization standpoint, but literally world changing potential exists within the NFT and broader web3 spaces.

My question is, why are so many of the people at the forefront of tech and business turning a cold shoulder to NFTs? What am I missing that has made these people so adverse to the idea that NFTs have used beyond Internet trading cards?