It is time to tell you what really goes on when you buy an NFT…
A digital world needs digital content that can be owned. A data-driven economy (democracy) needs data that is sovereign, with rights, emancipation, and identity. A world where data becomes a digital asset, empowering artists, content creators and individuals, as well as businesses and institutions of all kinds. We are entering a realm where all data will have value and be traded — but are the current Blockchains up to the job of NFTs?
Let’s face it would you buy and NFT — Non Fungible Token? The only people that seem to be buying these tokens are the crypto whales as a means to park their crypto so they don’t have to pay tax, or people sold the dream the NFT will go up in value due to scarcity and originality, although as you will find the token to be completely worthless. Please note that just because crypto whales and millionaires have accumulated lots of crypto to spend doesn’t mean they are right or know how crypto works. Many got lucky, took a ‘punt’ on BTC in the early days while others ars are intuitive traders that play the emotions of the crypto markets.
Well there is nothing like a bit of ‘front running’ to get a market moving, right! Look I have nothing against NFTs, they are a great concept. The issue is the engineering of them, today doesn’t work.
