Influencers are pushing NFT/Metaverse onto you- companies are using it as form of advertising. Be. Careful.

Share:

Crypto is here to stay, however, the current craze over NFTs (particular the jpeg kind) and Metaverse is a very speculative echo chamber created by influencers. Big companies are jumping on as a way to advertise their own products.

I’m all for Crypto that gives real improvements. For example, Bitcoin is hedge against inflation and can be used as a global currency (and underlying foundation for digital). Seems like solid investment.

Eth and smart contracts is another great improvement to get rid of the middleman per say- tho still a few issues need to be addressed with the tech (scalability /insurance for when contracts fail / etc)

Then there’s DeFi… the entire financial sector / infrastructure has needed an overhaul for years. However, because of the tech foundation of our financial systems – its been extremely difficult to change any aspects of it. With Crypto, not only has it made this become a real possibility- it can also work alongside financial sectors to improve it (better efficiency, better rewards for consumers/customers, more automated, less middlemen. etc). An improvement for all.

Now comes the whole NFT / Metaverse / Play to Earn craze. Yea NFT allows for digital ownership, which is great. But do we really think retail investors will continually trade/spend thousands of dollars or euros on a jpeg? Why? Because it was once owned or sponsored by a famous youtuber? Ehhhh… NFTs are going to disappoint many, I think vast majority are into NFTs as a form of a ‘get rich’ scheme and not underlying tech.

Metaverse is much the same… it’s a scheme to make money off you. There’ll be tons of toxicity in a virtual world. Just because Zuchburger wants to create a metaverse, doesn’t meant metaverses are the next big thing. Not everything he attempts will turn into gold. Metaverses been attempted many times in various forms. Maybe they’ll finally stick but it’s a very speculative bet at best.

Be careful with what you invest in. I think NFTs and metaverse is extremely speculative that’s being pushed by influencers because it caters to their future… I’m looking forward to when NFTs can go beyond jpegs and into something that helps – like preventing scalping of items / tickets.

Am I the only one doubting this current NFT use craze?

submitted by /u/YamahaFourFifty
[link] [comments]