The "ownership" is good enough if somebody is surrounded by people who also see the Emperor's clothes. Anyone who doesn't believe it can be dismissed as a "right-clicker".<p>Initially I thought they had some interesting DRM technology but when I found out how weak it was I realized how desperate some people are for yet another asset they imagine is valuable.<p>It makes me think a lot about Tom Wolfe's writings on subcultures<p><a href="https://en.wikipedia.org/wiki/The_Kandy-Kolored_Tangerine-Flake_Streamline_Baby" rel="nofollow">https://en.wikipedia.org/wiki/The_Kandy-Kolored_Tangerine-Fl...</a>
<a href="https://en.wikipedia.org/wiki/The_Pump_House_Gang" rel="nofollow">https://en.wikipedia.org/wiki/The_Pump_House_Gang</a><p>which center around the idea that not everybody can be at the top of "the" social pyramid but that anybody can be at the top of a little social pyramid shared with a few other people.
Solar Sands also offers an interesting critique of the actual art of some of the most popular NFTs: <a href="https://www.youtube.com/watch?v=wDtt24RxdLk" rel="nofollow">https://www.youtube.com/watch?v=wDtt24RxdLk</a><p>The fact that some of the most highly sought-after NFTs are randomly generated, really off-putting and not something I can bear to look at for a long time is enough to convince me that it's just a gold rush
Folding Ideas recently did a very thorough takedown of the NFT:
<a href="https://www.youtube.com/watch?v=YQ_xWvX1n9g" rel="nofollow">https://www.youtube.com/watch?v=YQ_xWvX1n9g</a>
Seems pretty obvious to me, that like 2000 dot com era, NFTs are very hyped, most projects will fail, value will be wiped, but NFTs will remain part of our internet experience in some way like e-commerce is.