NFTs are the wave of the future, are you onboard? The trend of the future

[QuarterMillionMan]

It started out from art, baseball cards, music, etc.
Does anyone know what it entails?
I wish that I knew how to get onboard and make money from it.
Tradeable expenses that you can turn into assets.
This is the future. Digital assets is all I know. Non fungible assets (NFTs).

[disneysteve]

My daughter recently shared this explanation of NFTs. I think this covers it nicely.

[QuarterMillionMan]

DS I appreciate your candidness but you could be regretting this in 2, 5 or7 yrs.

[scfr]

Sure, why not? This post is now available to purchase for $10,000.

[kork13]

I don't buy into it yet .... But the concept is basically that one can use a blockchain algorithm to serve as an immutable record of ownership & sale/transfer.

The best example I've heard relates it to the deed of a house. If the home's deed was registered by an NFT, then all transactions regarding the home would be preserved on the NFT blockchain. No more title searches to see who might have claim to a house's deed, because the NFT blockchain is the ultimate arbiter & proof of ownership.

That said... No idea how one might make money through them. I've only heard a little bit about it. One episode from my favorite podcast (WorkLife by Adam Grant) actually has a discussion about it (buried a bit, mid-way into the episode)... But I couldn't even follow that discussion very well.

[disneysteve]

Sure, why not? This post is now available to purchase for $10,000.

Or I can just take a screen shot and “own” it for free.

[corn18]

Did someone hack your account?

[srblanco7]

Did someone hack your account?

Not sure if you were being serious, but this made me LOL .

(Perhaps) like others, not sure I understand nor care to understand, NFTs or their perceived "value".

[myrdale]

In "Thou Shall Prosper" there is a story about a Pacific island village that uses larger boulders for their currency. In the center of the village, there are 15 or 20 of these stones. Everyone knows who owns each stone. If I want to marry your daughter, it might cost me a two stones. On one occasion, a man wanted to marry the daughter of a chief on the neighboring island. So he loaded his stone onto a raft and started rowing across the bay. Half way there the raft sank, as did the stone. But this didn't manner as everyone understood the stone still existed, only it's current location was at the bottom of the bay. The chief accepted the stone at the bottom of the bay, and the man got his bride. Later on the chief traded his stone (still at the bottom of the bay) for some pigs.

Personally I equate NFT's (and cryto in general) to the sunken stone. You can't see it, yet it has value. There is a public ledger (even if verbal) to assess who owns it.

[disneysteve]

Personally I equate NFT's (and cryto in general) to the sunken stone.

At least the stone actually exists.

[LivingAlmostLarge]

I don't get it how you buy and sell rights to images