Why NFT Collectibles Are Overhyped

I find it interesting how much “concern” there is in the media about how people are spending or investing their own money. The markets will work all this stuff out. There will be winners and losers.

Theres a store on my cities “high street” that sells high end furniture. Among these items are louis vuitton branded tiles which are exactly what they sound like. Its a ceramic tile with the LV logomark embdedded in gold leaf. Each of these tiles costs $10,000 dollars. Obviously this is abusurd, but when the house prices are 5-6M the tile adds an extra social signal to others about your wealth. I suppose NFT items are the same. Theyre not for the buyer. Theyre for the people the buyers know.

If someone sells an nft claiming ownership of someone else&#x27;s intellectual property, damages can certainly be collected through the courts.<p>The biggest issue I see is that many wallets don&#x27;t allow users to sign messages, which is required to prove ownership of an nft.

So I tried to put content on rarible. It was $900+ to create a ERC 721 token, $13 to create a rarible token. Will be looking into other options.

Eventually people will realize that NFT collectibles are actually fungible unless tied to a non-fungible real world rights.