I thought nfts stood for nice fucking tits

Well, that’s probably another thing it stands for.

I have crytocurrency but I am saving it so I can sell it so I won't have to work anymore

I barely know what NFTs even are. Is it just a way to ensure a file (like an image or something) is only ever in your possession?

https://www.nationalworld.com/lifes.....tplace-3163733

What I walked away from after reading that was that this NFT is akin to a copyright. Some way of defining that you are the owner of said digital artwork. To help insure that others just don't right click the image to copy it...then repost with claims that they made the artwork. Then, I start looking at some of the other comments down below and I feel the haze of confusion start re-approaching.

However, I think while the notion of a verification system is good in principal, I also see a very horrifying side to all this. Like here in FA, alone, there is a massive wealth of digital imagery that is not being paid money to some securing company. Thus, not being declared as copyright protected. And is a gold mine for someone to come along, copy it, pay the money to some kind of company...and then try and sell it as a one of a kind art work...in their image...for more money.

I'm on the outside, looking in through a rather filthy window on all this. But...if I'm seeing this right, it starts sounding like those shady people that search the daily police logs of criminals, copy the public images, post it to their many sites, then ransom the rights for removal for whatever values they declare from each server. Only difference is that the artist is expected to fork over some money for digital receipts to their works before the thief can. Ugh...

Then, I am reminded of a writer's trick of authenticity. Create a paper form of your work, send it through the mail system to yourself and use the date marked & sealed envelope as proof of your work.

Not even that, it's more that you own a share of the file.

It's not even that. It's that you own a blockchain pointer (from a tech point of view, its the same as saying "I own this specific ETH") that points at a file.

If the thing it points to is not under your control (i.e. you registered an FA url) and the file is moved, altered, or deleted, guess what, your NFT is now valueless.
(Assuming it had value in the first place, which it probably didn't, because the only value it has is what someone's willing to pay for it and it cost ~$40 to register the token in the first place).

Nothing stops anyone from copying the file, courts don't recognize NFT-ownership as ownership-of-the-file, and you can't use it to enforce copyright.

^ This XD was being light on it but yeah, legit with NFT what you own is a share to a link to the file, which the file could be moved at any time which renders the link useless and worthless.

NFTs are just digital receipts for a picture you own. They are not even the work of art you bought. Just proof that you bought it, if you plan to lay claim to it or sell it.
They eat up a lot of electricity to make and edit this record, so they are also bad for the environment.
And because the market is unregulated, scammers just sell the NFTs to themselves for crazy prices to set them as proof that these things are supper expensive.

Its become a very popular art theft method - especially because once the NFT is minted, it can't be undone.

NFTs honestly feel like a solution to a problem no one has.

I couldn’t have said it better myself.

I think they are solution to the whole unregulated market crypto monopoly money.
This thing has the potential to crash the whole system, since they went from fiat money to goods backed up money. And the goods suck, so it will lead to insane inflation.

A giant magnet is also a solution to it.

I'm afraid to make a PSA journal about this myself because in these cases, I'm always afraid it would attract people that use them and then steal my art.

However, I do agree it's a horrible practice. There's no value behind it and it's way too open for abuse.

Atta girl NFTs are gross and you’re right to have nothing to do with them

It's a huge ponzi scheme so snakes can steal assets, inflate their value and pump and dump. Really the internet in a way is stil the wild west in terms of snakeoil salesman and fraudsters. I do hope the trend will pass. Hurting artists and making video games into work (Ubisoft and others are trying to do NFT integration, its awful) is not something I will ever stand by.

Yea it's nothing but a money laundering option if anything honestly. And top it off with actual art being stolen for an NFT? Now that's just icing on the shit cake.

Good good! Those things are hot garbage!

I'll help spread the word.

If you want to point and laugh at NFT idiots being idiots, here you go:
https://twitter.com/CoinersTakingLs

+5000 respect points for you