this post was submitted on 11 Mar 2026
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From millions of dollars to under a grand: The dramatic fall of the NFT (english.elpais.com)
submitted 1 day ago by NomNom@feddit.uk to c/technology@lemmy.world
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[–] phutatorius@lemmy.zip 3 points 2 hours ago

Speculating on the value of an investment based on an asset that doesn't exist is similar to scammers offering to sell certificates of ownership of dogs' souls.

Capitalism tends over time to create increasingly abstract forms of ownership. And what could be more abstract than ownership of something that isn't there at all? They're selling GUIDs that point to nothing.