It doesn’t happen often for all new tech, usually only kinds of tech that are especially relevant when it comes to a lot of money being thrown around. With this case in particular, however, it’s important to recognize why so many people are so interested in NFTs. IP owners desperately want some automated means to enforce their ownership across the internet without needing to go to courts, hire lawyers, etc. NFTs promise a way to do that – if I own this token, it belongs only to me. I might be able to exhibit this token in some way for you to see it but, at the end of the day somehow, once I stop exhibiting the token, you can’t make a copy or keep it anymore. NFTs are absolutely not able to do this yet, but that’s a problem that should (theoretically) be solved by throwing enough investment money at it. Eventually. Maybe.
If somebody were able to solve the digital ownership puzzle, that solution would be worth a crazy amount of money. Whether NFTs are the solution to the puzzle or not is still to be determined (they’ve been saying it will be for seven years, but NFTs still can’t actually store the image they’re pointing at). That is the unfortunate thing – most NFT companies don’t seem to be about solving those problems, but getting as many people to buy in as possible. A good number of them just seem to be taking the money and vanishing – often enough that the NFT community has nicknamed the behaving “rugging”, as in “pulling the rug out from under”. NFTs as a concept don’t really instill a lot of confidence in me, not until they have actually solved that core problem.
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