Quote:
Originally Posted by Wormius
Was listening to some stories about the NFT artwork. Are these genuine or can anybody do a drawing and make a bit of money? Is this sort of the new “mining”?
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It's faddish, but there is some investment cost as Minting an NFT is proportionate to the file size. Minting a JPEG is like, ~50-200 USD in ETH.
A lot of artists are wrestling with the implications of jumping on what is obviously a bubble bandwagon and compromising their integrity. The "pay millions for a JPEG" stuff will probably be short lived, and most of the NFTs out there are illegal reproductions of artists work (but because it's crypto, it's near impossible to determine who put it up for sale/demand a takedown).