Blockchain Potential

The Real Deal About NFTs And Crypto Currencies

Ok. So in the last week I invested a couple of hundred dollars in gas fees on opensea.io + some digital assets for creating images. I did this to create NFTs in the form of digital images. I feel like I was mentally retarded so I decided to write this post so you don’t feel the same way too.

Let’s start with the basics. You have probably heard that some NFTs sold for millions of dollars and perhaps you could create some NFTs too and sell them for at least thousands of dollars right? Actually I priced my first NFTs at around 300 dollars each. Guess what? I haven’t sold not at least one. But I’m an ambitious guy so I persisted by creating more NFTs. Guess what again… I haven’t sold anything this time either. I searched for marketing techniques until I realized the truth. If I would have been smarter I would have realized it just with the help of critical thinking. 

Let me appeal to your critical thinking mind.

Take for example the following piece of “art” from the Bored Ape Yacht Club:

Eminem paid for this piece of “art” $450,000. Let’s be honest now. The ownership of the image above is worth $450,000?

Let’s go further: the most expensive NFT ever sold at Christie’s for $69 million. The most expensive Picasso painting ever was sold for $179.4 million and it is called Les femmes d’Alger. What is the difference between the 69 millions image sold at Christie’s and Picasso’s painting? Well you can copy/paste the image but can you copy/paste the Picasso painting? Of course one might argue I can’t copy/paste the ownership of the image and that would be true. But if I wanna have a perfect copy of the image on my screensaver I can copy/paste it. From a digital point of view the copy is perfect except perhaps some metadata which I can’t see on my screensaver. If I wanna have Picasso’s painting in my living room there is absolutely no way for me to have a perfect copy of it. Can I ask the best painter in the world to create me a perfect copy of Picasso’s painting? (assuming I have the money to do so). I hope I made myself clear enough.

NFTs are a bubble which will be worth something until people will realize what they are all about. I was stupid enough to rush on a NFT market and publish some digital assets to learn the truth… you don’t have to go this way.

Of course I can be your “friend” and help you “invest” in NFTs. Come one, the entire article was a pamphlet and please buy my NFTs while they’re still cheap. Look… my NFTs will be more valuable than Picasso’s paintings. So if you wanna make the best investment possible go ahead and buy my NFTs.

Unfortunately I got rid of all my friends I wanted to get rid of so I don’t have anyone to fool into buying my NFTs. But would you like some NFTs?

On a serious note again, I don’t have the same opinion about crypto even though I’m not a crypto investor. Crypto coins actually have value. For example if I want to pay you some amount of money without anyone knowing about it I can use crypto. You can think about illegal activities or you can think about corrupt regimes where you want to fund causes without anyone knowing about it or being able to stop it. People think crypto currencies are all about illegal activities but they can be a formidable tool against corrupt regimes.

Another application of crypto currencies is about changing the entire world. What if most governments are corrupt, more or less? What if people will decide to stop funding governments? I mean you pay your taxes and in some countries you get bitten by dogs when you protest or even shot without warning in others. Would you really like to fund such governments with your own taxes? I’m pretty sure governments world wide will start to play fair or they will go bankrupt and thus obsolete. Or perhaps they will shoot most of us, why not?

So if you don’t like your government start using crypto. There is no better way to fight back! As a disclaimer I still hope my government will decide to do the right thing eventually so I’m not there… yet!

The summary: NFTs hold no value what so ever while crypto currencies will change the world. My personal irony is extreme: I invested in NFTs but not in crypto.

PS: When I say crypto I mean real crypto not some state backed (and controlled) digital coin. You may wonder why there is so much distrust in crypto… let’s see: what would some billionaires in this world do without contracts with states or governments? I mean only their companies are good enough to provide goods and services to states/governments? And who owns most of the media in developed countries at least? Yes… one billionaire or another. And what is the real problem with crypto currencies? They can’t be controlled. The world is not about money or power… it is about control.

The system is mostly rigged and more and more people are starting to realize it. Why hit the streets and get beaten up/shot/arrested and so on? Hit them where it hurts: financial control. Are you aware that without financial control there would be no poverty for example? Or wars? Just think about it by yourself… What if money would not be centralized?

If you look at this world long enough you will see two kinds of leaders: some who change (every 4 years or so) and some who don’t. The way I see it most politicians are actors placed there just to give you the illusion of choice. As long as people choose their leaders, those people can only blame their selves or those next to them for the choices they made.

Regarding the people who don’t change these are not just head of states. They can also be CEOs or financial leaders for example. I can see only one solution: decentralized power. As long as power will be concentrated in the hands of few people will never be free. I believe we need small leaders but a lot of them.

PPS: Call me paranoid but please… you heard it from me first probably 🙂

Later update:

The gold rush of NFTs is aggravating sufficiently that people are starting to create Facebook PPC campaigns to give away NFTs for free. I have a stupid question: if these NFTs will get very valuable why their creators are giving them away for free?

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