Useless! Money-making! Rip off! NFTs and society, what is happening here?

By Krapottke | Crypto and society | 25 Mar 2022

What happened, that there are such sayings about NFTs?

Before that, however, I must make it clear that these are extreme opinions and are not generally transferable to such an extent to all those who do not think much of NFTs.

To answer the question, we first need to know what NFTs are, so a short refresher:

NFT is the abbreviation for non-fungible tokens, which means an NFT is a cryptographically unique, indivisible, irreplaceable and verifiable token that represents a particular object, whether digital or physical, in a blockchain.


With the digital, the first problems arise with certain people. The purpose of buying a digital image of a monkey, for example, does not arise for them and when the prices for it are heard, the lack of understanding is inevitable.


In addition, the prices can be exorbitantly high, which also ensures that many rich people have NFTs. This makes NFTs something for the upper class and there is a "that's not for me anyway" mentality, which is a pity. Because NFTs are a wonderful way to create unique things.

Then there are people who have managed to get through it and then experience a rip-off. Or the opposite, whether it was luck or very good research, success and it continues as extremely simple, which is not always true. False first impressions are therefore problems.


Overall, it can be said that different impressions have created a wrong picture. If we want to make NFTs a matter for everyone again, we must fight prejudices while it is still possible and show that it's not just about tons of money.


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Just another young crypto enthusiast, but with a view to society

Crypto and society
Crypto and society

In this blog you can find out about Crypto in relation to the society . What do older people think about the topic? What is thought of NFTs? Which cryptocurrencies are accepted or more likely to be accepted than others? These questions and others are dealt with here.

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