Problems with NFT

1. Having an ownership to an NFT doesn't mean you are the owner over that design (04:50)

  • is it just for bragging?
  • they are mostly repurposed photos from the past or computer generated png files

2. Most NFTs are not made by known creators

  • currently mainly made by opportunistic business people
  • apes, lazy lions, next earth 

3. Ethereum is bad for the environment

  • the mechanism “Proof of Work” requires a lot of computers in the network using a lot of energy to make it secure  

4. Artificial scarcity - unethical

  • you may need to pay 1,000 hours of online game to win a weapon that belongs to you, but you can’t bring and use it in another game

5. It could be illegal

  • the art you sell may belong to someone else who has the copyright