this post was submitted on 19 May 2025
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Me neither. Please explain. Something with mushrooms, surely.
Something that is fungible is not unique.
An NFT is essentially a number tied to another number in a block chain that establishes ownership.
It provides a history of who owns it to. It's very useful when validating contracts and preventing fraud. Somehow it got turned into little graphics exchanged for money and I still don't understand how that happened.
So, for instance, since the owners of the NFTs know that the wallet is compromised, the recipients of the NFTs after this point in the block chain are recipients of stolen goods. So anyone tracing the validity of an NFT knows that these are now all worthless.
I mean, they were worthless before...
What do you mean, I shook my magic 8-ball and it clearly said I was correct in valuing my stick figure at 50b USD. I was completely bankrupted when my kid ripped my paper in half
50 billionth of a USD sounds about right.