The Value of NFTs?
I remember when I was 4 years ago at one Blockchain conference and the guy was explaining the difference between coins/tokens... The main two types were fungible tokens and NFTs (non-fungible tokens)... Back in the day, I think that Crypto-kitties was the first example and "use-case" for NFTs, but also, I think that IOTA was another one...
Anyways, a lot of things happened from that moment and it looks that NFTs needed that time to be more present and to got their space under the spotlight... Many people say that this is the peak moment of DeFi and NFTs and they are those who are running the show now and pushing cryptos to their new all-time highs...
I'm playing Splinterlands game for almost 3 years, I think, and I thought that I understood the meaning and the "point" of NFTs, but I was wrong... I have been limited to games and I was understanding NFTs through the "gaming glasses", which means that the VALUE of a certain card is determined by "characteristics" in the game... Is it a legendary card, is it epic, how much "life" it has, what attack has, what additional abilities does it have? In Splinterlands it is mostly like that, but that doesn't mean that the value of some other NFTs (not Splinterlands) have the same "measure" for value...
I couldn't understand why would someone spend dozens of thousands of dollars (or more) to buy an "ordinary JPEG" minted on the blockchain as NFT... Why the heck that? Where is the value of that NFT (except in the money that is spent for the purchase)? And then I watched an interesting video on YouTube where it just clicked... We need something to connect the dots... Something to connected that digital asset with the "real world"... And the perfect fit are social media websites... It's still a "work in progress", but they will be those who will add value to your NFTs...
Check out the video for more details, explanations, and thoughts... And sorry about the strong wind in the video...
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