Crypto Research

The Myth of NFT

NFT becomes a clear path to easily rug-pull people.

Everything seems okay until the market weakens itself ?.

An NFT project looks more like a dating App ?. 

They all share the common problem – people who didn’t become who they claimed ?.

? What is an NFT?

An NFT is not art, collectibles, or many values attached. 

It is your reputation that blockchain technology makes it identifiable until you breach the trust ?.

? Azuki NFT

The founder of Azuki NFT came out to discuss three abandoned projects.

Then, things become mixed feelings in the community.

Some take as three rug-pulls.

Some question about the project.

Some believe the founder is a scam artist.

https://twitter.com/Retr0E8ght/status/1523802009580625920

Some still defend the project and the founder.

? NFT is More Centralized Than You Think

NFT does not embed the ownership of users who own that NFT but a reputation owned by the creator. Therefore, it heavily depends on who created the NFT, and each artist does not represent it equally.

How to quantify your reputation depends on how centralized NFT has been created. 

If the NFT project is centralized, the trust can easily judge the creator’s reputation.

If the NFT project is decentralized, the utility can easily judge the creator’s reputation.

However, many NFT projects choose the first route, and each rug-pull makes the crypto community harder to swallow the reality ?.

The NFT community then becomes a dating community – searching for a soulmate and a partner at the same time until you find out they are either of them claimed to be.

? Opinion

Does your reputation matter? Would you exchange reputation for money ?? That is how you will deal in the crypto space.

? Follow me here

Related posts
Crypto Research

Modern Economic Nonsense — Inclusive blockchain

Crypto Research

Modern Economic Nonsense — Banks are seeking shelter in cryptocurrencies

Crypto Research

Modern Economic Nonsense — Web3 continues building despite the bear market

Crypto Research

Modern Economic Nonsense — Payment apps move away from the fiat currency

Sign up for our Newsletter and
stay informed

Leave a Reply

Your email address will not be published.