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What do you think of NFTs (non-fungible tokens)?

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equestriatola
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12 Nov 2021, 11:39 am

Hey - lately, you've heard of these things called Non-Fungible Tokens (NFTs) - and I am her to ask, what do you think of them?

Before we begin, you ask me "What are they, Johnny?" Well, an NFT is a way of proving that a digital item is the only one of its kind in existence and therefore cannot be copied or reproduced without the owners knowledge and consent. NFTs can be considered modern-day collectibles. They're bought and sold online, and represent a digital proof of ownership of any given item. Also, they are used wherever virtual goods can be collected and traded as one-off objects. Examples are collectibles, digital art, music and individual virtual objects used in computer games.

I have kind of a problem with the concept of them, personally. They are also harmful to the environment as well.


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Texasmoneyman300
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12 Nov 2021, 10:32 pm

equestriatola wrote:
Hey - lately, you've heard of these things called Non-Fungible Tokens (NFTs) - and I am her to ask, what do you think of them?

Before we begin, you ask me "What are they, Johnny?" Well, an NFT is a way of proving that a digital item is the only one of its kind in existence and therefore cannot be copied or reproduced without the owners knowledge and consent. NFTs can be considered modern-day collectibles. They're bought and sold online, and represent a digital proof of ownership of any given item. Also, they are used wherever virtual goods can be collected and traded as one-off objects. Examples are collectibles, digital art, music and individual virtual objects used in computer games.

I have kind of a problem with the concept of them, personally. They are also harmful to the environment as well.

I would say putting money into NFTs is gambling just like Vegas and I say that as a finance bro.Like you can put spare"play money" into but dont count on retiring with them but a few will get rich from them but most will lose money.NFTs are a total scam most likely.Id say stick with the stock market instead.Although I will make more money from them indirectly if NFT drives up demand for oil and gas so I can get behind that part of it.I would say its too late to make money from NFTs once they are popular and are in the news a lot.A free index fund would be a much better investment than a NFT.