NFTs are just a way for people to move their crypto, like explained before. NFTs are also useful for other types of wealth accumulation, which is why certain industries are pushing it. However, it only makes the already fat cats fatter. You as a user get nothing. There is a good video recently posted on the crypto thread that does a well enough job of exposing these technologies. In the end it's just people wanting to make money in an irresponsible and detrimental way. Nothing new really.
For these without access to that forum section, here is the video:
According to the video, The one's behind NFT in gaming (generally) are the wealthy and ultra wealthy. A turf war between the 5% and the 1% where the 5% attempt to create conditions/domain that will make them the next Bill Gates or other such class/rank in their society. NFT is the pump that keep it flowing.
///////////////////////////////////////////
If you were in possession of a lot of wool during a wool shortage in some ancient village you would find that it suddenly had risen in value. This is not from nothing but the wool has also not changed, it's still the same thing.
Its a faulty example/argument.
Wool is a material from which cloth's are made. Cloths are tool that help preserve/maintain heat/energy, they are an aid in survival, continuation of life. So even without a monetary/currency system attached to them, They still have use and more of it, even as food for moth's.
In contrast/comparison, what is the main use of NFT? What would it be without the monetary/currency scheme/system attached to it? Without the ugliness of most of it and the triggering of the release of dopamine/pleasure/desire in the brain in anticipation of the reward, what use/influence it would have without them?
Be reminded/aware, that according to studies; the cause of gambling addiction is due to anticipation of reward. Most of the dopamine, the molecule of desire, that which allow mice(and thus other animals) to get up an pick/get their food by them-self,
is being serrated/released in the brain due the anticipation. One has to assume them drunk on pleasure on the idea/imagination alone, without the substance/reward/payoff. The speculation market is a gamble.
Add peer pressure, social groups/circle for reinforcement and one has formed a steady trap.
These with high standards/principles/ethics (the highest/greatest of them are these of Yahuha/YHWH/יהוה the highest/greatest being we have proof/evidence of) which allows one to consider more , the two sides of the coin, highest and lowest, to place one in another shoe's/point of view would generally be immune to it, see/sense a wrong in it. What there is in NFT trade that benefits both parties if no other/further transactions are allowed/possible? The one fooled would remain so until another one to be fooled is found.
A bubble is a
fragile, the key word is fragile, it can only sustain its form in small sizes reliably and small/mere pressure destroys it. One cannot build/create reliable/lasting things based on it.
Even the concept of ownership becomes insignificant/unimportant/illusionery. Too small and temporary, not worth the effort at the expense of others, when factoring Yahuha/YHWH/יהוה.
Even if these scheme exist as to leech the excess, trim the fat from, these with excess income, it highly likely to end/siphoned back to the ultra wealthy/elite rather then be disturbed/share with these in more need of it.
Think of nations economy/currency as the body blood vessels. If the blood flow is restricted or concentrated in one area, other parts of the body will begin to rot for they were denied access to nutrition/resources they need to exist. One need to image/picture what form such body would take, how slim the limbs would be or if the body will resemble a tentacle.