I forget that we should state the obvious, appreciating that 98% of humans don't read beyond the headline. So to be clear, #NFTs are not investments.
Yes, they're marketed, sold, offered and often exploited as "investments" but they are not. People get confused caught up in HOW nfts are made and WHY they represent proof of purchase but not WHAT they are.
🤔 If you turn down the technical jargon and noise on HOW nfts are made (also we should note that most people confuse minting nfts with crowd sourcing funding💰, via the offering of non-fungible tokens in a crowdfunding campaign. #Crowdfunding existed before and will exist after nfts and crowdfunding (the seeking of capital from strangers online) isn't "nfting" anything.
Where were we....oh yes, if you turn down the techno babble of HOW and WHY and focus on WHAT nfts are....They are not investments. They're digital receipts that some fools buy to prove that fools and their money are so easily separated.
Do receipts have a real world purpose? You bet they do. Just not as vehicles for retail investors to transfer their hard earned money to VC backed predatations.
⚠️ So again, to be clear if anyone ask you, NFTs are not investments.
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Agreed. But are they securities? My view is that 99% of NFTs sold today are merely chips in the OpenSea (or pick your platform) casino. Some chips are green, some purple, some point to images of apes, while others point to images of pixelated crypto punks. Most people don't care (or understand) that there's no underlying value in the majority of NFTs today - they just believe they have a chance at beating the house.
This is a great analogy! Nailed it, Brian!