Reasons Why The Crypto Dream Is Turning Into A Nightmare

No Tangible Value

The main issue with NFTs is that they have no tangible value. They exist in the metaverse but this means nothing to the majority of the eight billion people on the planet. Buyers see them as a digital certificate of authenticity but there’s nothing useful about them (via EY).

Proponents claim that this is true about standard currency or gold. They’re indeed valuable because we prescribe importance to them. But the difference is that they are tangible objects with a value that goes beyond data. That’s why many people think that they mean nothing.