Are nfts a scam or do they present any value

Would you reword the thread title, please?

K thx

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I own a few nfts that cost me less than a days worth of work to purchase

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You still paid way too much

I don’t think nft’s will be around in 20 years.

But I also own 3.3 million Iraqi dinar so my investment knowledge is questionable.

JPEG NFTs are just digital art.. they are (or arent) as much a scam as any other digital art, except there is the underlying tech to prove ownership

Why would they increase in value with no utility? The only thing unique is the token behind the image. The image itself can be reproduced endlessly.

Granted in 20 years the hyperlink to your nft image will probably be broken

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JPEG NFTs are just digital art.. they are (or arent) as much a scam as any other digital art, except there is the underlying tech to prove ownership

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Sort of. The "ownership" is for that image at that location on the web. That's it.

This is the "Forever Rose" and in 2018 it sold for $1M

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And here's "Ocean Front", which sold for $6M last year.



I can copy, save and then upload these to Photobucket and use them whenever I want because NFT ownership does not take something out of the public domain and give the NFT-holder rights to all copies of that image, just that copy of the image at a specific location on the web.

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Sort of. The "ownership" is for that image at that location on the web. That's it

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Not for all projects, but yes a great many right now this is the case.

Some NFT’s that sell for that high are signs of money laundering. I’ve also seen some people buy and sell their own NFT’s to “boost” the value and then scam the idiots that buy them for the inflated price.

NFT’s are a big thing in the Metaverse as well and it blows my mind on why people would spend money on a digital picture.

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I own a few nfts that cost me less than a days worth of work to purchase. I did it on the off chance these things actually do have value. The thing is I don’t really intend on selling them unless they increase by almost 1000% which may take 20 years.

Anyway, I just wanted this boards opinion on nfts and whether you think they are a huge scam and whether the people who create and “audit” these things are just big scam artists. Do you think they have any value?

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There is tons of garbage. A lot. Just like there were a lot of scams during the internet bubble. And most projects are just pfp's (jpegs). But do you know you came out of that mess? ebay and Amazon which revolutionized e-commerce.

There will be a company born out of the NFT space that people will look back in 15 years and say 'I wish I bought.' The problem is it's everyone's guess at this point.

The leaders in the clubhouse are probably YugaLabs and Proof. But also very expensive.

And don't let the fact that these ecosystems have pfp projects detract from the fact that they have huge war chests and are building out the future of web3.

And I'll say it again for the people in the back, not all NFT projects are 'just a jpeg.' Some are keys to software, games, websites, platforms ect.

If you are interested in learning more I suggest joining a discord group. By the time information get to tigerdroppings you are probably the last in line.

There are some useful nfts. One example would be video game items. The items are nfts that are redeemable in game.