Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.::NFTs had a huge bull run two years ago, with billions of dollars per month in trading volume, but now most have crashed to zero, a study found.
Clever assholes convinced fools that they had “the next big thing”. The “smarter fools” realized the problem and offloaded their losses onto greater fools, a considerable portion of which are now wondering how to catch an even greater fool than themselves.
Seriously. Cryptocurrencies almost sorta kinda work, and with severe modifications, could become useful as petty cash that you can e-mail.
NFTs are a scam.
NFTs are the platonic ideal of a scam.
Everything that could possibly be removed, has been. This is the Wire Mother of wire fraud. You spend money… and you get… nothing. But you can sell the nothing to someone else. That’s it. It’s a transferable scam. Ponzi schemes at least resemble real investments by disguising their mechanism. But this is completely out in the open, to the extent anyone can explain “blockchains” to boomers. Pyramid schemes blur the line between victims and grifters. But this is a linear chain of greater fools, and all anyone can say is ‘I better get in before all the bigger fools are gone.’