Today I want to share my thoughts on the new form of bidding called NFT’s. NFT’s stands for non-fungible token which is basically a “trading” game for the wealthy. I would compare it to being able to trade a Pokémon card for a baseball card. You’re not trading it for the same thing but something that is completely different.
“NFTs can really be anything digital (such as drawings, music, your brain downloaded and turned into an AI), but a lot of the current excitement is around using the tech to sell digital art.”
Basically, you can share any form of art like the founder of Twitter did and sell it for under $3 million in seconds just like him:
Or I am sure you’ve seen this iconic template:
This article made it seem like this is a great way for artists to share their work and make a profit. However, this article does not mention the amount of energy NFT’s take in and how terrible they are for the environment due to blockchains.
Also, anytime the item is sold again, it consumes more energy creating a never-ending cycle.
I think it’s careless to write an article without sharing the amount of carbon footprint can happen once you sell an NFT.
If you want more information on how bad NFT’s are for the environment, click this article.