I’ll freely admit that I’ve always been very sceptical of cryptocurrency and blockchain. I can see “a” use case for the technology, but I do not see it as the answer to all the problems.
Over the last couple of months the new “hot thing” in the world of crypto and blockchain has been “NFTs”. What the hell is an NFT?
Well according to Wikipedia:
A non-fungible token (NFT) is a unit of data on a digital ledger called a blockchain, where each NFT can represent a unique digital item, and thus they are not interchangeable. NFTs can represent digital files such as art, audio, videos, items in video games and other forms of creative work.
Not really. And it definitely doesn’t explain why anyone would want to pay thousands of dollars for a digital image that can (and is) be copied an infinite number of times.
Saturday Night Live have done a very amusing segment on NFTs and it really captures the moment:
I think we all are!