tech

'Enormously risky': How NFTs lost their luster

10 Comments
By Theo MATTIOLO and Yassine KHIRI

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© 2022 AFP

©2022 GPlusMedia Inc.

10 Comments
Login to comment

NFT’s could be useful as digital tools for record keeping, identity verification, medical documentation, legal ownership of property or real estate….etc.. but there are no services that utilize this digital asset for those types of situations.

Yes there are.

-1 ( +0 / -1 )

NFT’s could be useful as digital tools for record keeping, identity verification, medical documentation, legal ownership of property or real estate….etc.. but there are no services that utilize this digital asset for those types of situations.

-1 ( +0 / -1 )

One of the dumbest things ever.

My son got a free NFT from some game he plays, put it up on an auction sight and eventually sold it for $2k. Laughing all the way to the bank. Here I was and said, "sell that to the sucker bidding $50!" at the beginning.

Heck, still didn't believe it until he showed me the cash deposit. Dang some people are foolish with money.

0 ( +1 / -1 )

NFTs were the ultimate (and perhaps most ephemeral) tech bubble. So many fakes were produced (not sold by the owner of the original), so quickly, that you had to get in and out really early to bank a profit.

Crypto will rise and fall according to market sentiment, eventually collapsing when it gets criminalised by governments.

Stablecoins are only stable if they are pegged to a reliable real world currency. A 'Stablecoin' pegged to crypto is not a Stablecoin - it is a crypto proxy.

Deglobalisation, nationalism and the inevitable consequences, will hammer the global economy. Although most finance (stocks/crypto) has an element of artificial value and can function as if detached from reality, it will hit the wall at some point.

Whatever your money is in, make sure you are able to cash out very quickly when reality hits home.

-1 ( +0 / -1 )

Bear market for all assets. Of course these kind of high risk assets are less popular. Same as metaverse assets. Wait for next bull market once the FED restart quantitative easing in a few months time and watch the price of these jpegs skyrocket again.

-1 ( +0 / -1 )

Digital tulips.

1 ( +2 / -1 )

Yes, it’s completely useless and stupid, but still less dangerous than our real world with Cold War, military conflicts, nuclear armament and all the like. Let them enjoy their little virtual bubble, they don’t harm anyone else than only themselves.

-3 ( +0 / -3 )

Clearly for people who think that investing in crypto currencies is too safe and boring.

0 ( +1 / -1 )

Pretty much the same as the traditional art market in volatility, then. If you don't understand it (I don't) don't get into it.

9 ( +10 / -1 )

A fool and his money are soon parted.

10 ( +11 / -1 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites