Non-Fungible Tokens (NFTs) - Should You Invest? (Scam or Legit?)

in Threespeak2 months ago

▶️ Watch on 3Speak

Non-fungible tokens (NFTs) have been trending again lately.

But is there real value there? Or is this a fad? Let's talk!

Link to my Crypto Investing Cheat Sheet:

▶️ 3Speak


Hola @louisthomas… He elegido tu post para mi iniciativa diaria de reblogear. Este es mi aporte para Hive…
Sigamos trabajando y aportando ideas para crecer en Hive!...
Hello @louisthomas... I have chosen your post for my daily reblogging initiative. This is my contribution to Hive...
Let's keep working and giving ideas to grow in Hive!

When watching your video, I think I'd better be careful, lest the investment be lost like the water that runs in the river that is seen behind you.

I fully agree on your point regarding NFTs representing physical objects. If you're going to rely on the court system or other third party mediators for proof of ownership, then there is absolutely no need to put the tokens on a blockchain. That's because the right of ownership will ultimately be arbited in the physical realm.

It would require that the physical and the digital world to meld for this distinction to become a distinction without difference. At the very least it would require the complete roboticization and of the police force and the military. That way, the monopoly of legitimate violence would be entirely controlled by software and potentially without centralized control if it were controlled by software running on some sort of a blockchain-based virtual machine.

On the other hand, purely digital assets, are prime candidates to be non-fungible tokens on a blockchain.