Originally posted by Jaden_3.0
Anyone with any modicum of sense would steer clear of NFTs like their life depended on it.
The technology is a little more complex than that. Legit artists can sell their art digitally now (obviously if theyre selling for reasonable priced and not Ridiculously High prices Just Because its an NFT).
You can also own a portion of an actual property via an NFT. (Useful if you cant afford a whole property).
But the industry is still immature so easy for scammers to take advantage of the hype.
Originally posted by Jaden_3.0
Only reason it isn't illegal is that it isn't yet regulated.
F*** American regulators. Theyre completely useless in this industry. They dont go after pump and dump schemes (too subjective to prove in court I guess). They havent even made sure exchanges are legit solvent. And have provided No clear rules or guidelines for crypto companies to follow.
Instead theyve spent the last 2 years suing Ripple, an American company whose completely transparent, and whose in the business of a worldwide payment system which could compete with (or integrate with) the banking sector and PayPal.
Oh but they went after Kim Kardashian for promoting a crypto with a tweet one time. But never went after the people who were actually Behind that crypto (which likely was a pump and dump scheme).
And even their case against Kardashian (who initially agreed to pay a fine) got thrown out of court !
Wow im sure American crypto investors feel so protected by these guys.