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Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.
(markets.businessinsider.com)
This is a most excellent place for technology news and articles.
correction... always were worthless.
It's always been a con game.
Their so-called "value" was always determined by the ability of the person shilling it to make up bullshit. Literally the definition of a "confidence" game. Same problem as crypto in general. It's only has value if you have confidence in the person shilling it. The moment that person loses the confidence of their marks, the entire thing crumbles to nothing because it isn't backed by any real tangible assets.
So like art. No tangible assets, but the value is derived by the highest bidder.
No, because with art, there's still a literal piece of art.
With NFTs, it's just a shitty jpeg some tech bro photoshopped up in five minutes.
With NFTs there aren't even any art. The NFT is a receipt for the art, not the art itself. You didn't buy the copyright for the actual art with an NFT, you bought a link to a specific copy of the art.
I mean, there are ways to tie them together, though the point still stands that NFTs add nothing to art. Copyright works fine without an overly complicated digital receipt.