The Problem With NFTs

[ItsNick]

Before you get yourself involved with NFTs, wactch this video:

I know NFTs are very interesting to creators/artists and to some of you here. And there might be real value to at least the idea of a non fungible token.
But most of what is being sold regarding NFTs right now does seem very scammy. So watch out and do your research.

[Yarco]

The real power of NFTs isn't shitty cartoons. It's yet to come.

It's stuff like having a grape vine in a world-famous vinyard RFID tagged, and then you own a token on the blockchain that entitles you to all the wine produced from the grapes of that vine for the next 30 years. You can have it delivered, or you can take your cut of the profits when they sell it. And you can sell or give your interest in the vines to anyone else at any time. You also assume the risk that the vines will just die and you lose everything.

https://www.forbes.com/sites/theworldwineguys/2021/09/01/nfts-have-arrived-in-the-wine-industry/?sh=82c4798db398

There's no reason to not have property deeds and mortgages on NFTs in a couple decades. It'll be way cheaper, faster, and easier.

[7thLetter]

I haven't watched the video you linked but I'm guessing it provides a pessimistic perspective of what's currently going on with basic digital artwork being sold for millions of dollars on Opensea.

Here's a video that talks about the pros and cons of the NFT technology and the future of it: