The Sotheby’s auction house has been named as a defendant in a lawsuit filed by investors who regret buying Bored Ape Yacht Club NFTs that sold for highly inflated prices during the NFT craze in 2021.

  • Bobby Bandwidth@lemmy.world
    link
    fedilink
    English
    arrow-up
    10
    arrow-down
    1
    ·
    1 year ago

    I spent a lot of time coding some NFTs for a unique use case / idea I had. It doesn’t involve trading / speculative cryptocurrency or drawings of apes. If I ever finish it I definitely will not advertise it as using NFTs. The interesting thing to me is using them as contracts and/ or programmable money. Currently the banking system and credit card companies have a chokehold on payments/purchases/etc. But, NFTs and smart contracts in general provide an alternative to that. That to me has value inherently. Now, I’m aware that bad actors have been using crypto to circumvent laws/regulations, and I’m not in favor of that. But I also do not like the credit card system, and think there’s value in exploring alternative paradigms.