Serious question. Why do I keep hearing about NFTs now? Aren't NFTs basically like the crypto equivalent of skins?
Nft is a non fungible token. Basically it's a unique item.
You and I both have a tron token. They are worth the same, they are unique in the idea that the one you have is yours and mine is mine, but I'd we traded we would still both have one trx. They are fungible. All the same.
Now let's say you have an nft and I have an nft. Mine and yours are not the same thing and are not worth the same thing necessarily. They can represent ownership of a physical or digital item or be a unique item in a game built on blockchain.
They have their place and are a cool concept but the nft craze right now is a fad. Once it hypes down there will be real use and innovation around it
I guess the part I really don't get is how people are speculating on them? The buzz around NFTs reminds me of how gold was being hocked before it shot up in price. But like you said, NFTs are unique. It's not like you go to an exchange and buy an "NFT" like you would eth or whatever.
I am somewhat familiar with NFT trading as far as like their value as a collectible from certain games and whatnot, but I am really confused because they are being discussed like a general commodity? My mental picture of it is like baseball cards, but the card's value is based on the popularity of the player..so in that sense, it kind of seems like if Apple or whoever creates an NFT, I should just grab as many as I can...For short term gains, not as a way to store value.
Or am I just totally off base and simultaneously showing my age?
Ah I understand and yes it's dumb and confusing.
So there is a SPECULATIVE market around nfts where an nft producing company will also make a fungible token representing the value of the nfts. So basically stocks in a work of arts value if that makes sense? But even worse because it's not? It's very confusing and dumb.
Basically if you can buy less than a whole one it's not an nft.
It's like owning the digital code of a piece of art, file, text, etc.
Some are taking off being seen as collectibles like Pokémon cards. E.g. nbatopshots sells gif-like cards of NBA players.
It has potentional but can be kind of stupid as you just literally view whatever you have and everyone else can view it but you own it.
Right now half of nfts seem to be money laundering and such.
And I do see it having a worth in the future for virtual reality games.
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