this post was submitted on 19 May 2025
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Just want to add to that, NFTs aren't inherently about artificial scarcity, they could also be used to track ownership of rights or real life items without a central authority that everybody needs to trust.
Of course, cryptobros immediately went to pushing them as an investment scheme, and the actual implementations are slow, inefficient, and downright expensive to use. I don't think anybody has managed to make NFTs actually useful, but I imagine the original creators weren't looking to create... Whatever this is.