Before I get more into this, I want to say that this may be one of the most controversial subjects to talk about since it’s recent & people having very strong opinions on it.

There’s been a viral trend going on around the internet called “non-fungible tokens” or NFTs. To put it simply, they’re digital collectables run on a “blockchain”. Most NFTs are driven by a cryptocurrency called Ethereum, with NFT sites like OpenSea acting like a “marketplace”.

However, it’s been the subject of a lot of controversy online, many of which are for seemingly legit reasons. These reasons include it’s negative environmental impact by its crazy-high energy usage & carbon emissions, people stealing art from artists who want nothing to do with NFTs (aka plagiarism), a funnel for money laundering, crypto mines causing GPU prices to jack up & screwing over the gaming industry, link rot (images can’t be stored on the blockchain, only links), the toxic “FOMO” (fear of missing out) mentality the NFT community has & then some, and a lack of functionality outside of profit. Yeah, that’s A LOT. Most people who are into it tend to have avatars of auto-generated monkeys, crappy 8-bit figures, & lions.

Some folks who are against NFTs have been countering it through “stealing” NFTs by right clicking & saving, making them lose its apparent value. Unfortunately, that’s not stopping companies and celebrities from dipping their toes into this weird bandwagon. These include the likes of EA, Toys R Us, & Tom Brady, to name a few.

Another interesting thing, this item wasn’t made by one company, but two individuals, Kevin McCoy & Anil Dash, the latter having shown regret for inventing them. On top of that, things have gotten so crazy, the federal government has started to heavily regulate NFTs by making them taxable starting next year (2023).

As someone who draws art, I believe this NFT fad is so silly and even dangerous, it makes Pet Rocks look like a decent product. I’m interested to hear your take.