NFTs Explained In A Way Your Dog Would Understand (But, I Think Your Dog Is Already Smarter Than Us, Since He Has Probably Not Bought An NFT)


OK, I stole this analogy from something I read and it is pretty easy to find versions of it all over the internet. It does, though, explain my confusion with the NFTs and trying to determine their value.  Don't get me wrong, I think there may be some value in the idea behind NFTs that we will find, just as we found value in all blockchain technology beyond crypto. As it stands, NFTs have not shown any long-term value that I see, other than bragging rights, and that is not a long-term investment. I'll give you an example, without looking, who won the super bowl two years ago? You might know, what if I ask who won five years ago?  My point is that bragging rights to biggest event of the year, that brings in more money than any other single entertainment activity in the United States are mostly forgotten, even by sporting fans within a few years. So, how much is your bragging rights for that NFT?

So on to the analogy, and if you are into NFTs, I am sure you have heard it.

You are married to a woman you really wanted to be married to, you went through all the trouble to get married to her, paid the fees and got the marriage certificate. Now you understood that your wife was still going to sleep with anyone that wanted to sleep with her, she simply was available to every guy in town at anytime. They have complete access to your wife with almost zero restrictions at anytime. You are not worried about this, though, because you have a piece of paper that shows you are the person only person that is certified to sleep with her.

I did find one other that I like that is from Jacob Galagapos:

Imagine if you went up to the Mona Lisa and you were like, “I’d like to own this” and someone nearby went, “Give me 65 million dollars and i’ll burn down an unspecified amount of the amazon rainforest in order to give you this receipt of purchase." So you paid them and they went, “Here’s your receipt, thank you for your purchase” and went to an unmarked supply closet in the back of the museum and posted a handmade label inside it behind the brooms that said, “Mona Lisa currently owned by jacobgalapagos” so if anyone wants to know who owns it they’d have to find this specific closet in this specific hallway and look behind the correct brooms and you went, “Can i take the mona lisa home now?” and they went, “Oh god no are you stupid? You only bought the receipt that says you own it, you didn’t actually buy the Mona Lisa itself, you can’t take the real Mona Lisa you idiot. You CAN take this though.” and gave you the replica print in a cardboard tube that’s sold in the gift shop. Also the person selling you the receipt of purchase has at no point in time ever owned the Mona Lisa. Unfortunately, if this doesn’t really make sense or seem like any logical person would be happy about this exchange, then you’ve understood it perfectly.

Anyway, I left my garage light on, so I'm gonna go take care of that.

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SeventyFourSeventyFive
SeventyFourSeventyFive

I am an American aquarium drinker. I assassin down the avenue. I'm hiding out in the big city blinking. What was I thinking when I let go of you?


Interesting Thoughts, That Aren't Always Mine
Interesting Thoughts, That Aren't Always Mine

Just tidbits and info about whatever comes to my mind.

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