This has to be a scam of some sort, but i don’t even see how the people at the top are making money.
Same way pyramid schemes do: convince others that it makes cash and sell it to some sucker down the line
It’s a multi-level scam.
The people at the top convince other people to put their money and effort in. They tell those people “this is going to be the next big thing, you just have to tell the world about it.”
Then those people write this stuff for them.
This sort of thing isn’t written by the people at the top of the scam. It’s written by their suckers, or their suckers’ suckers.
Even if these weren’t a scam, they use intensive computer resources to add a layer of property ownership bullshit on top of an existing open data architecture simply so certain people can claim “ownership” over information. It’s a way to push the ideology that we should have “ownership” over the things we post to the internet, rather than it being a memetic collage of humanity.
All knowledge is based on previous knowledge. For knowledge to grow, access to information is important. NFTs is an attempt to make technology move backwards and deny access to information via technological means. I’d personally rather have places like Sci-Hub, which is dedicated to sharing information freely for the benefit of science worldwide.
Worse than just being a rejection of the open nature of data and how easily it can be transferred, it doesn’t actually do what it claims to do. One of the people who helped create the NFT spec in a programming jam calls out NFT peddlers by pointing out an NFT doesn’t contain any actual art, it only has enough bits to hold the URL to a piece of art. Technically, if the server the hosts your NFT disappears… so does your NFT. Because the NFT itself is just a hardcoded link to a piece of art that is verified by a series of hash-checks.
Non-Fungible Tokens, or NFTs for short are shaking up the virtual universe, transforming how we vibe with digital assets.
Oh hello fellow humans. Let’s vibe with our digital assets for a bit since it’s something we do so often in our virtual universe. What assets do you especially enjoy vibing with?
I personally prefer my tokens to be of the fungible kind, to be honest. You know, those famous FTs.
Right? I’m funging on a token right now.
