Two months ago, I started looking into NFTs and crypto in general. The hype for NFTs was so high that a client of mine asked if I could write a pie...
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I think you have a few misconceptions:
1: The environmental cost of crypto is not in the contracts themselves, but in the mining for currency. This does have a very large and unnecessary carbon footprint
2: Blockchain is great for decentralization, but 90s of ventures using it for financial gains are in essence centralizing them. An NFT is literally just a token that everyone agrees you own, and any image or item some random person or authority says is connected to said token is still owned by whoever made it. Take for example crypti kitties, if they ever shut down their servers then you're essentially left with nothing.
Also, many chains don't use proof-of-work, Ethereum is moving away from proof-of-work, and Layer 2 solutions for Ethereum, that are already available today, don't use proof-of-work.
Though eventually cryptocurrency might be better, using them at the current point of time where the biggest ones use proof of work is irresponsible.
Ethereum has been moving away from proof-of-work for years, but should not he used until it actually has finished said move.
Though cryptocurrencies originally were meant to work as a decentralized normal currency, people keep trading them like stocks, making them too volatile for normal people.
Banks would still be needed for tax-reasons, unless governments started accepting cryptocurrencies as their main coin. But this is highly unlikely in its current state.
Yes, crypto is volatile right now, that might be an issue.
But, as I said, L2 PoS solutions are available right now, big companies like Reddit are building featues with them.
And there's a literal government that started accepting a cryptocurrency as legal tender.
I would say that the majority of crypto whether that's currency or NFTs are useless. However, I will say this.... the next few years will be another lesson of standing by people that you really believe in at the beginning and not after the fact.... which is what investing was supposed to be all about.
People flock to bluechips, which are at the peak.... For people with small capital it makes zero sense to get in on that... what makes more sense is using your small capital on smaller businesses that would really benefit and your capital could make a better impact, vs little to no impact on a bluechip stock.
There are people that are against NFTs because they see the whole idiocrasy behind big money creating NFTs on things with no real community. Kinda maintains the whole "B2B" venture capital fundraising -> sell strategy business model that the recent years has does not focus on end consumer wants/needs.
However, NFTs would really help game devs for creating communities. Offering limited free NFT's for your community, which is worthless at the start, but if you're able to foster and build communities you can make a bunch of money from the FOMOs that did not see the value in the beginning.
The NFT space is not about selling fake digital coins for outrageous prices. As long as you drop the FOMO mindset, and go back to the main principles of an NFT and the principles, you're golden.
2021 is proof that people with money are willing to spend ridiculous amounts of money on speculation and things that are overvalued.....
If you have the means to provide value (games, saas, content, etc..) NFT's are a great way to capitalize on real value, as long as you provide it.... think nft license keys, nft game assets, nft content, etc...
Hopefully this makes more devs really consider opposed to getting a bad taste of crypto from all the dumb valuations that they see on the news on a daily basis...... if you maintain impressions based off the FOMO news, you're kinda missing out on something that doesn't cost you that much money to implement, opposed to trying to get a sense of what's valuable or what's not valuable and putting like 5k+ on a project you have no control over.