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Non-fungible tokens (NFTs) are collectible digital assets, such as pictures, videos or sound clips that are bought and sold using cryptocurrency. They’re unique digital properties, representing images or files that may not themselves be unique.
For example, personalised pictures of apes are the in-thing right now.
I am an ape! #community #art #BoredApeYC pic.twitter.com/iOe3E0H2t6
— Neymar Jr (@neymarjr) January 20, 2022
I aced an Ape! Cannot resist any longer to join the @boredapeYC. #BoredApeYC @serena @frenchbayc pic.twitter.com/eTvs0bNk7P
— Patrick Mouratoglou (@pmouratoglou) February 9, 2022
I am an ape! #community #art #BoredApeYC pic.twitter.com/YMJf8KqQR3
— memes futebolisticos, BBB EXPERT (@Mfutebolisticos) January 22, 2022
Unfortunately, the environmental cost of NFTs is enormous, with some estimates saying that a single NFT has the carbon footptint of at least one month’s worth of electricity for a resident of the EU.
This explanation of NFTs from queersamus on Tumblr might be the most brutally honest explanation out there.
Imagine if you went up to the Mona Lisa and you were like “I’d like to own this” and someone nearby went “Give me 65 million dollars and I’ll burn down an unspecified amount of the Amazon rainforest in order to give you this receipt of purchase”.
So you paid them and they went “Here’s your receipt, thank you for your purchase” and went to an unmarked supply closet in the back of the museum and posted a handmade label inside it behind the brooms that said “Mona Lisa currently owned by jacobgalapagos” so if anyone wants to know who owns it they’d have to find this specific closet in this specific hallway and look behind the correct brooms.
And you went “Can I take the Mona Lisa home now?” and they went “Oh God, no. Are you stupid? You only bought the receipt that says you own it, you didn’t actually buy the Mona Lisa itself, you can’t take the real Mona Lisa, you idiot. You CAN take this though.” and gave you the replica print in a cardboard tube that’s sold in the gift shop.
Also the person selling you the receipt of purchase has at no point in time ever owned the Mona Lisa.
Unfortunately, if this doesn’t really make sense or seem like any logical person would be happy about this exchange, then you’ve understood it perfectly.
Love them or loathe them, people can’t stop talking about them.
Folks who love NFTs need to recognize that there are reasons not to love them, and not just the environmental impact. I see that you are really excited about this, but it seems kinda like no one makes money unless more people are always buying in.
We have a name for that.
— Hank Green (@hankgreen) February 4, 2022
Mostly with tongues firmly in cheeks.
1.
Every day, a new celebrity you thought was cool tweets positively about NFTs. But you can help: make fun of them
— jon drake (@DrakeGatsby) January 18, 2022
2.
Heard your dad's trying to NFT the three flying ducks on your nana's wall
— Alexander (@Liffonmelsmork) February 2, 2022
3.
If I owned a picture of the ship of Theseus and you right-clicked and saved it, would NFTs still be a bullshit scam? Yes or yes?
— Classical Studies Memes for Hellenistic Teens (@CSMFHT) November 9, 2021
4.
"So tell me the use case for your NFT"
well, it's digitally scarce.
"So what can you do with it"
I own the rights to it on the blockchain and no one else does
"So what do you do with it?"
I look at it, check the value daily.
"So what gives it value?"
It's digitally scarce.
— K A L E O (@CryptoKaleo) March 15, 2021
5.
Sorry I didn’t know about the cartoon ape nfts. I go on walks every day outside
— raina (@quakerraina) January 20, 2022
6.
me: wouldn’t it be great if those fake “name a star” certificates cost 500x more and were also somehow bad for the environment?
guy who invented NFTs: pic.twitter.com/raJTXlMEOe
— Janel Comeau (@VeryBadLlama) April 29, 2021
The post People can’t stop talking about NFTs – 19 non-fungible tweets appeared first on The Poke.
Source: ThePoke
