I believe that NFTs (Non-Fungible Tokens) have a definite use case in the future, especially while the Web3 part of the internet starts to become a lot more popular.

I believe this because NFTs are currently proof that you digitally own something (on the blockchain), so if you earned something in a game for example, that item would always be stored in your crypto wallet of your choosing. Even if something happened to your account, it’s yours (hence why NFTs and Crypto are completely decentralised).

But, in it’s current state of mainly being popular for digital art, I think it is mostly useless.

Yes, I think it is a really good way for digital artists to make some money, but as the art is digital, it loses value in my opinion. I don’t understand how someone could spend upwards of $100,000 on a single JPEG NFT of a bored ape (which is the most popular NFT collection out there).

You even see all these celebrities spending up to $623,000 on an NFT, just to see it go down to $10, which is what exactly happened to none other than Logan Paul (of course).

That proves that it is very rare to get a decent amount of profit investing in NFTs.

Remember, some articles may be short and some may be long, it depends on what I can think about a topic.

Thank you for reading, God bless and see you next week!

- Myles

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