NFTs Are Fueling a Boom in Digital Art. Here’s How They Work | WSJ
Non-fungible tokens, or NFTs, have exploded onto the digital art scene this past year. Proponents say they are a way to make digital assets scarce, and therefore more valuable. WSJ explains how they work, and why skeptics question whether they’re built to last. Photo Illustration: Jacob Reynolds/WSJ
These Cryptocurrencies Make Owning Memes Possible
Markets and economics are complex. It’s easy to be overwhelmed by a sea of wonky indicators and lose track of why they matter. This series breaks down the basic terms and ideas that move the markets.
More from the Wall Street Journal:
Visit the WSJ Video Center:
#WSJ #NFTs #WSJGlossary
Sounds like complete nonsense
Okay, but why buy them when you can just… screenshot it? Or download it?
What are you even supposed to do with them?
Aaron Schwartz sacrificed his life for PPL like us to screenshot pics on the internet
I understand what NFTs are and understand why they are valuable but… what do you do once you've bought one? like I just don't see the point.. like yay now you're a couple million dollars poorer and you get to look at this funny piece of art! I just don't understand…
Could you imagine if we cared about and spent this much for the homeless & world hunger?
Sounds like money laundering to me
Am I the only one having trouble with grasping why this would even work when we're talking about digital art which is simple pixels and thereby endlessly replicable…
I'd rather sell drugs illegally than to get into the NFT business. At least the products I sell would be real and physical.
This is so stupid, sorry
How I see NFT’s holding value is someone like Elon musk sell the photo of him landing on Mars as an NFT. It is a near impossibility that this photo will be taken in a through film means opening the door for it to be shared everywhere. Elon could sell the photo as an NFT and the buyer will have a piece of digital history with proof of ownership. Anything beyond that seems a stretch to me.
Is anyone more confused than they were before watching this?
This is really helping
Lemme just screenshot that image rq for FREE
I still don't get it.
So it's like buying the rights to the art. If I buy a nft of a character designer from someone I can legally use that character as my own.
Wao humanity keeps getting stupider by the year.
height of nonsense. just be ready for the next burst. system will correct itself.
No they are not a boom, it's a game of passing the hot potato until someone gets burned. If you own an nft you own nothing but an encrypted hyperlink to something stored elsewhere with no guarantee that it will stay there. If I right click an nft I actually own exactly the same thing, except I actually know where it is stored. If digital artists want a way to sell their art, they are going to have to create something physical.
Rich people hiding their wealth. This is disastrous and we deserve the sh+t storm coming because we let this dumbfuc+ery exist.
I wish all the nft losers a very "lose all your money". that bubble can't burst soon enough
Nft’s are just a pile of 💩
If anyone can buy a unique nft then why would you wanna buy someone else’s?
Nice, Vic Chaos sent me
Might be something to learn from this? 🤔
This sounds dumb
And what stop someone esle from using it? NOTHING LOL
This sounds ridiculous.
What is meaning of wind of?
And they don't exist when the power goes out.
This so stupid and pointless
I just want see all crypto and nft will react on global economic crisis
I don’t get it. Why would you want the “one and only original” when I can just look at it with my computer? It’s not copyright, so you can’t exactly restrict my access.
I see the potential revolution this can bring on the blockchain networks but I imagine there’s 2 things that need to happen:
1) security for replication and fraud needs to be vamped to build trust in the NFT economy
2) it needs to go beyond just art… when the metaverse begins to really pick up, I can see it becoming the new norm for virtual content being used as if the real world
I thought the point of evolution was for humans to become wiser and more adaptive to thier surroundings? Most humans believe the universe busted a nut and created life as we know it….so no wonder why they are dumb enough to live in a Matrix within a Matrix.
It's a scam lol. The world sucks. So much focus on money, money and money. I hope the Lord returns soon.
Screenshots: am I a joke to you
its just another manifestation of monetization.