Keep in mind that buying photos isn’t the only application of NFTs. People stopped buying valueless photos, but other implementations of NFTs kept on being used.
Comment on X removes support for NFT profile pictures
SeedyOne@lemm.ee 5 months agoAnd yet crypto is back up again for some dumb reason. Are we sure NFTs are truly dead or are we going to see that grift in a new form soon?
joshhsoj1902@lemmy.ca 5 months ago
squiblet@kbin.social 5 months ago
Right… the technology conceivably has value as a way to digitally trade ownership and track authenticity. It just happens that it was used for a bunch of truly worthless algorithmically generated art that people got suckered into by hype.
ililiililiililiilili@lemm.ee 5 months ago
NFTs came about due to collectable communities trying to capitalize off cryptocurrency (think baseball cards, shoes, Funko Pops, etc). NFTs were doomed from their inception because they attempt to give limitless data artificial scarcity.
caoimhinr@lemmy.world 5 months ago
Crypto is up because the SEC greenlit crypto ETFs being traded on the stock market.
s_s@lemmy.one 5 months ago
That dumb reason is Tether printing new phoney-bucks.
TimeSquirrel@kbin.social 5 months ago
NFT as ape pics are dead, yes. But crypto as a form of value exchange for transactions where you don't want too many eyes looking at it has not stopped since its invention in 2008. It's just going to become a normal staple of the internet, like Bittorrent and VPNs, just existing and being used without anybody really caring too much about the technology itself.