When I first learned about NFTs I figured I was simply too stupid to understand it. There was simply no way it was as dumb as it sounded.

Turns out I was right, it was way, way dumber than it sounded.

There are lots of legitimate but boring uses of NFTs, just not the kind that make the news like pictures of monkeys.

Name one… 😅

Proves ownership that is much more difficult for scammers to steal. Banks and insurance companies can use them. Reduces costs in proving ownership as well. Unfortunately art seems to be the only thing anyone knows about but it should honestly be a very secure but ultra boring technology.

We already have mechanisms for all of that. Any security it provides you can have without it, the only difference it had going for it was “it has blockchain” and that was the Arbitrary Magic Hype Word at the time - like “AI” is now and “cloud” was before. In reality that means it’s a huge unwieldy system that wastes tons of resources for what’s often really poor reasons.

We do have existing mechanisms in place. More expensive and less safe options. This is definitely not a huge and unwieldy system. Very simple and streamlined and much cheaper. Nothing amazing or world changing… just some minor technological advances.

I don’t see how it’s more expensive or less safe for authentication than signing with a private key and publishing the public key…