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Jun 13, 2022

Are NFTs a Scam?

It’s not uncommon for people to assume that NFTs hold no extrinsic value, and solely remain relevant in their niche community. However this assumption is inaccurate.

When NFTs first began emerging most people either did not think much of them or simply thought they were tokens of digital art and nothing more. As the community has continued to not only expand but also evolve people have begun to question and analyze their value. Some believe that the entire concept is silly and pointless and at first glance this may seem reasonable, however after conducting your own research you would learn how inaccurate this is. NFTs, at the very least, make people see the millions of opportunities that our time presents. The concept represents the further shift into a new era, Web3 and the way top players are integrating NFTs makes us think that these are not just fun, and certainly not a bubble, but our new reality. There are so many niche items or concepts created that could be considered a bubble, not just NFTs, that’s why it is important for us to look past simply what they are but look towards their future and everything they have the possibility to be. More and more companies are utilizing NFTs as access NFTs rather than holding them for artistic or aesthetic purposes. With bigger brands making this push it is inevitable that the entire industry will shift into this utilization. 

4 Reasons NFTs aren't a bubble:

  1. Access NFTs allow for a holder of a NFT to access content. This could be music, movies, books, educational material, and much more.
  2. NFTs empower artists/creators and allow them to retain profits that traditionally have been taken from them by middle men.
  3. Buyers of content are given direct ownership and can resell or gift the content after enjoying it.
  4. Creators receive the full amount of funds for their work, consumers get to actually own their access to content and everyone wins.

Curios believes in the community we are part of. When we look at NFTs we don’t just see art, we see utility. Decentralization amongst the tech space is not only inevitable but it is already here. What is important is that collectively users come together to engage but also help in the evolution that is happening.