Why NFTs Will Destroy the World

We need to talk about what is an NFT and how it will change the world (or destroy it). I’ll explain what is an NFT, some major issues in the way, and some future possibilities with it.

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0:00 What the heck is going on?
1:10 What is an NFT?
8:13 The biggest concerns with NFTs
13:07 How NFTs will change the world (maybe)

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44 comentarios

  1. Block chain can't be manipulated? Good luck making people believe that

  2. blue eyes white dragon in coolest

  3. Devil tries to pass himself off as God, but he's an immitator, God is the Father. Imitated, never replicated. He is the Real Deal.

    The blind receive their sight, and the lame walk, the lepers are cleansed, and the deaf hear, the dead are raised up Matthew 11:5

    Whom the Son sets free is free indeed. John 8:38

    For God so loved the world, that He gave His only begotten Son, that whosoever believeth in Him should not perish, but have everlasting life. John 3:16

  4. Bro why are people so angry with NFTs? its just a expensive art, right? Right…?

  5. I love how for the future you cited Ready Player One because I don't know if you know this but the outside world is fucked, companies own everything and the world is dead or at least at the verge of death. This also just art commissions with extra steps and you don't get to choose what you want also they all look like picrews ugly ones at that.

  6. NFTs are a scam, just like crypto currencies. It's just digital multilevel marketing.

  7. While I appreciate the optimism of trying to "show both sides of the picture fairly", there is a risk of attempting to overfit this blockchain technology to applications that can be better and more efficiently solved in a litany of other ways.

    Until the technical implementation and power consumption concerns can be firmed up and resolved, attempting to use the technology anyways at this large a scale is just destructive.

    The best course of action would probably be to step back, go back to the drawing board, and reimplement the solution to resolve those issues before trying to get everyone onboard. However, I'm extremely doubtful that will actually happen given the immense amount of money being thrown at these current systems.

  8. If the art for an NFT is bad, I don't understand how it can somehow be valuable just because it is unique. Bad art is still worthless in my book, no matter how "unique".

  9. Just like tulip mania, that 91.8 mn is probably for the rich to flaunt themselves as a person with good taste. it s all subjective and yep I can just screen cap the NFT and save it up as an image for later use.

  10. Interesting. I hate that these exists tbh

    Also small note but the $100 bill and yugioh card example were essentially the same

  11. I don't undertsand the powr part!! it doesn't make sense, how could you consume a 175 MEGAWATTS during a transaction !!

  12. Our Financial System In America Literally Is A Scam, Money = Debt. This Is What Controls The Country And People Have Fell Victim To It By The Hands Of Banks For 100s Of Years Whereas They Have Benefit From Our Downfall, And It's Legal. I Don't See Or Understand How Innovating The Way People Buy Sell And Appreciate Art, Or How Much They Are Willing To Pay For It, Like The Old Days, Is A Scam, When Everyone Can Make Money In This Game, Scams Only Benefit The Scammer, If Everyone Can Benefit With A Public Understanding On The Matter, I Wouldn't Consider THAT A Scam.
    Great Vid Also.🙌🏾

  13. Why do you have a fake money

  14. I think what you are saying is absolutely correct! But I still love my jpegs TAT

  15. Thank you … myself and do many artists were very confused- I will share with my pals!

  16. 10:41. Power. It's a non-sustainable system. Propped up by a Shakey Ponzio scheme. I got 1,700 pcs of copyrighted art that I can't sell because of start up cash. Then the magic "Block chain" is going to hold all my stuff? Betcha! I can overload em' to the point of THEM telling me to stop. I am just starting to unload data. (1,700 pcs) Daddy's got deep tri-tera byte Hard drives. and my own copyright license.

  17. It seems that NFT's are mostly for artwork. If the artwork is stolen do you have the funds to pursue legal action? Many patents thefts are never litigated due to the cost. Also if someone makes a small modification to your artwork, do you still own it. Getty images has truly been in the NFT business for years before the blockchain. This company is not even publicly traded with a modest value of only $4 billion. I just don't understand the hype of NFT.

  18. I take a bit more negative view of the technology. I feel another huge issue with nfts, blockchain, and crypto in general is both the fact that most humans living on this planet will never be in a position to even access the technology to participate since most of their lives are consumed with attaining the basics (water, food, shelter), and also the idea of whom will enforce any "digital contract". Part of fiat currency in most countries has taxation that goes to things like police, military, etc… which, at least in theory, enforce laws and protect those living in a physical space. Being decentralized like crypto seems to only create far greater risk.

  19. Good video. Don't you think Obstacle 2 – Energy consumption will be a thing of the past soon with Layer 2 solutions like Polygon etc that use a minute fraction of the energy used per transaction on Ethereum? Also, for the actual storage of media assets, what about the combined use of IPFS and Filecoin?

  20. This period making a good profitable investment should be in every wise individuals list 🔴🔴

  21. Money U.S dollar can be infinitely reproduced

  22. No More Naked short selling of stocks because blockchain can record the trades

  23. Is a stock share of Tesla Tangible???LOL GOTCHYA

  24. Short selling is the biggest SCAM! Explain how you can borrow something you dont own without permission, sell it for money, but also have the power to return it to owner?? WTF??

  25. NGMI in 10 years youtube videos will be nfts so people cant steal and monetize your videos

  26. They won’t destroy the world.

    They’ll just educate a number of stupid millennials in the realities of life in a way that their parents should have with the following lessons:

    1) you’re not smart just because you have a smart phone
    2) your ‘ok boomer’ comebacks were simply hot air after all
    3) the internet doesn’t make you stupid. It simply exposes your stupidity to scammers like Gary Vee.

  27. Take our chances. You still wants banks to own you? Look where that's got us. It's going back to trade and communal decisions. This can be huge for humanity.

  28. NFT’s aren’t stored on the block chain they aren’t even on a block chain, you get a URL lol

  29. "When you are in fact… A baller" took me out 🤣 woo! That was a gold one

  30. I see how NFTs can allow for a better copyright and ownership laws as it would allow people to have a secure access to the true source of information.

    And I do agree with alot of your points.
    However, with how NFTs are being used, you're essentially just scamming people to buy monkey images for an absurd price.

    Also, NFTs are in short, a digital version of a legibility certificate, but instead of having full control and ownership of a product, you are only able to to call it yours. The "BlockChain" is also essentially just World Wide Web 1.0.
    It functions in an oddly similar way as the BlockChain which does raise questions as to why it uses so much power in the first place, what makes it different from WWW 1.0?

    And what makes an NFT more liable than a Signed Paper contract?

    However, I can see both the NFT and Paper contracts to be used in copyright and ownership enforcement.

    Like for example. You can have an paper certificate of something you own and has a specific and unique signature imprinted on it and your signature. This information can be backed-up digitally as an NFT in the blockchain.

    So when someone tries to scam and steal your property by stealing and recreating the paper contract, you will have the original contract information in the BlockChain as an NFT.

    But, because of how NFTs are being said to be things like "Monkey Pictures" people are unable to understand what it actually is. And because alot of people are using it for scams, people are against it.

    NFTs have potential but I think we should steer it away from how people are using it. It's a very effective way of enforcing ownership unto something but for it to be secure and can't be just bought with money, it has to have a physical contract in the real world.

    Because let's say a person makes an art piece and posts it online. Someone takes a copy of it and sells it online through an NFT. Let's say that in the future NFTs are a thing. Someone buys the stolen ART through an NFT for an absurd price and now has full ownership of the image.

    But then this person sees the artist and accuses the artist of copyright infringement and the artist losses and you get the point.

    So…. Yeah, NFTs have a bunch of holes that need to be filled up inorder for it to be useable in the real world.
    For now, I'll reject NFTs are they are just scams and can easily be used for bad intentions.

  31. Also, to Clarify.

    The reason why old ass piece of ART like "The Mona Lisa" is so expensive is because of that emotional value it holds. Not because "It's unique" or "Irreplaceable" because you can just take a picture of the damned thing and bam.

    No, it's value holds up because it's something that the person behind it put alot of effort and emotional value into the piece. To depict something that causes the strings inside humans to be plucked causing a stir inside them.

    And this is why nobody wants this to be stolen.

    However, with 'Arts' purchased through NFTs, you're buying into something that's completely meaningless with its value and existence solely dependant on the people who wants to buy it.

    So, if you're broke and bought an NFT, chances are, you're still going to be broke but even more so after buying it cuz, its value isn't worth a penny.

    You can't pay your house with an NFT, its of no value.

    And this is why you shouldn't buy into these scams. Because even though people can make a quick buck through it, it'll die down faster than it went up mainly because, for NFTs to be valuable, the amount of people to price ratio should be 1: let's say, 1Million depending on how many people wants the "Art."

    And I'm gonna end it with this, you are better of supporting Artist digital or traditional like Wlop by purchasing their quality and very expressive art than having to look at a soulless trash hanged up your wall.

    Trust me, it makes a difference. And it also supports the person who worked hard for it. Also, unlike NFT bought Art, you actually own your own piece of the product which is a direct copy of the original and will possibly be worth millions if some idiots somehow lost their's in the future and if the Artist had stop making them.

    It's the emotional value that makes ART so valuable. NFT purchased art on the other hand is just a scam.

  32. So, in the end, NFTs are certificates that basically say "I own this but, not really" and is very reliant on demand for its value.

    It's a contract that gives you the ownership (but not really) of a… Ehem… "Unique" art randomly generated from an algorithm…. Or is stolen from someone else.

    The value of these "Art" are dependant on hype and number of demand not actually the value that came from effort.

    So, in the end, we're not actually purchasing ART with an NFT, we're purchasing a into a scam or a stolen product…

  33. Even disregarding the whole misuse of the technology I simply cannot see the potential of NFTs because everything they can purportedly do can already be done. Like the whole deal with creating in-game items to sell or trade with one another. Yeah, I don't need to "imagine" a "future" when we can do that because we already can easily do that in any game that supports the Steam Workshop and we've been able to do it for years. Furthermore, we can do that without the need of minting, which, surprise, it's an extra cost that NFT bros hilariously forget to mention every time.

    And are you seriously using Ready Player One as an example? It's the whole "Metaverse" BS yet again. Why is that people who promote this sort of thing keep forgetting that such movies are dystopian?

  34. I think NFT's are practically worthless. And what happens if the block chain that holds the nft information is abandoned?

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