Wednesday, May 25, 2022

The NFT Handbook - Matt Fortnow & QuHarrison Terry

 Glad I read this but definitely not "investing" in NFTs! This is NOT an investment, this is a speculation or even "day" trading.  But there is no long term "growth" anticipated out of this system.  Let's be real here: NFT's are virtual beanie babies.  So NFTs as far as making money goes are nothing more than a fad, however they are great as a means of digital media like books or songs/albums and as a safe way to create a sweepstakes/promotion/celebrity fundraiser.  There are absolutely many useful ways to use NFTs for limited release digital media and as a novel way to help people reach their fan on a personal level, but as a collectable, I'm very skeptical.  Of course, the book must act like that's the primary use because if no one's buying, no one can sell, but the prices to "register" on the block chain are so high right now, I have a hard time justifying it for the average crafter/struggling artist/newbie.  Once the prices go down, eh, maybe.  

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