John Reed Stark Talking NFTs on Bloomberg

Описание: Stick a Fork in your NFTs, They’re Done

A fractionalized link to the meta data of a JPEG is not a sound investment, sensible means of commerce or prudent pathway to live out the financial dream. It’s a virtual pet rock.

While NFTs are supposed to be completely decentralized, in most cases there’s no cryptographic relationship between the image that an NFT points to and its token. The image could be easily altered or replaced if people with the access to servers changed the file names.

Meanwhile, the NFT marketplace is totally rigged. Market manipulation of NFTs is not only rampant and tolerated, but also encouraged. Fraud not only rewarded, but also taught.

Moreover, NFTs are glorified computer code and not some sort of futuristic solution for ownership disputes. Instead, NFTs create an eternal and infinite vortex of conflict, instability, criminality, chaos and destitution.

Like the rest of crypto-world, in the NFT marketplace, there exists no regulatory oversight, no consumer protections, no net capital requirements, no licensure, no US audit, examination or inspection. It’s not just the Wild West, it’s global financial post-apocalyptic Walking Dead-like anarchy.

If you want to buy an NFT for fun or as a photo for your Instagram or Twitter, whatever, have at it. But buying an NFT as an investment because you believe the price of an NFT will go up? Well, good luck with that.

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