If you thought you ‘ve seen everything in this world, you might need to reconsider after you find out about NFTs, the internet’s whole new madness that you will find hard to believe.
Some seem to have found the million-dollar idea to get rich, taking advantage of rich people with lots of vanity and, well… money.
Think of a painting, which is available in digital form, an image like one of those you download daily from the web.
That painting, however, is sold for a ridiculous amount of money, in exchange for its ownership title.
Buying it, makes us, theoretically, the owners of that image.
An image uploaded on the internet, downloadable by anyone, anytime.
This is an NFT (Non Fungible Token).
You ‘re not getting it wrong – It is as stupid as it sounds.
An NFT can be anything: an image, like the example above, a video, a song, a sound, and generally whatever is or can be digital, even a… tweet.
Their operation is based on the blockchain of the popular cryptocurrency Ethereum, at which each NFT’s information is stored.
About the prices, since you ‘re asking, someone paid 69$ million for an image, another one gave 390.000$ for a 50-second video, while someone broke even that by spending 6,6$ million on another video.
Just a reminder: we ‘re talking about public media, accessible and available for download by everyone.
Another reminder: we ‘re not joking.
Unfortunately, these instances are not isolated. The NFT paranoia keeps getting bigger, with thousands of them being sold everyday for extreme digits, like the ones stated before.
Ofcourse, it’s not always about wasteful idiots buying nonsense because they ‘re bored.
NFTs are also a huge opportunity for money laundering, since all this enthusiasm created around them allows for easier business under the radar.