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RE: Are NFTs Just a Solution Looking For a Problem?

in LeoFinance • 2 years ago

Lumping all NFTs into the same category isn't really possible.
It would be like saying all fiat currency is the same. USD would be the same as hyperinflating money.

It is unsurprising that the first iteration on NFTs was a completely ridiculous cash grab. Nobody knows what they are doing and they'll just copy someone during the bull run for quick cash. We need more viable templates in play.

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2 years ago in LeoFinance by
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     2 years ago  

    I think that's the problem. You could say the v1 launch of NFTs was a failure, marred by greed and stupidity. When celebrities started getting involved, I knew it was game over for NFTs. We saw the same thing during the 2017 ICO craze, right? Once celebrities started flogging initial coin offerings, the bubble collapsed shortly thereafter.

    Hopefully, v2 of NFTs solves some of the biggest problems:

    • The cost (by leveraging more efficient and afford blockchains).
    • The greed by being used for purposes other than pixel art JPEG's and Gifs.
    • Not being applied to areas/industries where NFTs could be helpful.

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