my limited understanding of these things is they are aiming to create 'virtual scarcity' or perhaps more accurately digital scarcity. Like a fine work of art, only one exists, it becomes sought after and therefore creates value as a speculative asset. my take on NFTs is they are attempting to create a new asset class in the virtual world. like any asset class, there will be winners and losers at macro and micro level. anything which can guarantee scarcity, has the 'potential' to create value through supply and demand dynamics. You could also pick up a pebble and say "only one of these exists in the world, its totally unique" and you'd be correct, but you'd need enough others to agree with you to create the value in its uniqueness.
I work in finance myself and I struggle. My understanding is that it’s like a piece of art or a token online but via blockchain technology they only have a finite amount (some only have one) and you get a sort of receipt that proves you’re the only owner. Load of crap if you ask me but they seem to be popular.
Yeah I get the principle I don't understand the point. Like the fella who brought the first ever tweet for 4m or some mental figure, then auctioned it and I don't think it got higher than low 5 figures. I just don't see how they have intrinsic value.
