Why NFTs are so hated?

NFTs are a very modern solution to join communities, collect assets and invests.

There are plenty of use cases for digital licenses, which are created by Non-fungible tokens, but:

Why there is so much hate?

Common reasons to hate NFTs

• They are not fully regulated,

This is a very serious argument, entire crypto market is highly unregulated, that’s why this argument makes sense. However…

Never forget that every innovative and new industry has been built on unregulated technology

• NFTs are a bubble,

Speculative bubbles are very often on the market, that’s why somebodies can think that NFT is just a temporary hype which will fall.

Market has the cycles, who knows, maybe NFT are in bubble, but this technology has huge potential. If it crash, it will probably boost even higher.

In 2013 people were convincing others that bitcoin will not rise again, the same in 2017. Consider this example, by visiting old news in websites or just a value of bitcoin in usd. Nowadays it is more and more worth than in previous “bubbles”.

If you believe in technology, you can stay calm.

• It is just an image which I can copy

No, it is not. Everyone who claims that it is just an image is totally wrong. NFTs are like the keys, image is only the physical look. The most important part is on the blockchain.

This proof of ownership, allows what you can do with it.

For example, bored ape yacht club is not a collection of stupid monkeys without any further usage. Yeah, you can copy this image, but will you be able to go on private event or join this community with this copied image?

Definitely not.

NFT is a digital and decentralized license to some areas defined by creators.

For example it can be a license for some real estates, tickets, access to some community, whatever. It is still growing.

NFT owners are entirely transparent, it is easy to check it some wallet owns a special assets and then allow him to entrance anywhere where it is required.

• It’s a scam,

NFTs are attracting scammers, some of them are making a big traffic on social medias. It can be pretty easy to get potential victims to the project and take their money, but…

Blockchain has a huge advantage:

it is truest transparent

It means that if some project has a huge audience, massive social media campaigns. First thing to do before joining and buying new token is to go through blockchain explorer and look for the smart contract.

Data under the address of a smart contract indicate how many transactions were proceeded, how many wallet addresses possess assets, etc.

Truly verifiable.

Conclusion

It can be really hard to be aware about NFTs use cases in real life. Funny and stupid projects used cover images of some animals or aliens to make a hype and disappear.

It is one of the reasons, why it is commonly known that NFTs are just images.

However, after deeper research, it can be perceived, that NFTs have huge value, which they are putting into the real life aspects.

It should be obvious, to always check a technology from different perspectives, not only the one is wrong.