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In your opinion, what things should NOT be decentralized? (lemmy.ml)

submitted 3 years ago by [email protected] to c/[email protected]

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[–] [email protected] -1 points 3 years ago* (last edited 3 years ago)

I think NFTs could be a great way to fund arts or charity. Especially if they can smart contract money to their cause with each transfer.

I personally don't know how NFTs could really work as an investment mechanism because they aren't a currency and their ties to artwork are about the same as reddit posts with the same URLs. If there isn't an agreement under law giving people exclusive rigbts or monies from their NFTs then they are even more speculative than physical art.

Not saying they couldn't work, just that I don't comprehend the mechanism keeping people buying them at higher and higher prices.