efikkanAnd another thing that many don't know is that whoever is controlling these NFT schemes (or similar), often have the ability to "pull the rug" at anytime. And it happens all the time, and it's actually sad to see the reactions from their fanbase. Some are obviously angry, but many are hopeful that the "community" can recover, and making excuses for the founders. They don't understand that it was a scam from the beginning. These are the same kind of reactions we see from the victims of other get rich quick schemes. While some of these schemes can keep a steady state for a while, nearly all of them will eventually collapse, as sooner or later they will run out of gullible people.

efikkanHistorians will probably look back on the 2010s and 2020s as the "funny money" decades, when everyone thought it was a good idea to invent their own "currency".

FasolaThe funniest thing I saw recently was related to a Logan Paul token/NFT/game scam (coffeezilla has 3 recent videos about it), with one of the guys scammed saying that he will use a special NFT that allows him to have a in-person meeting with LP in order to ask for an explanation. There's no better proof of Stockholm syndrome than crypto bros.

WirkoAnd they will call this phenomemon by its real name: inflation.

efikkanNo, the crypto craze is not inflation, despite the historic levels of inflation caused by the US and other large economies printing absurd amounts of money, more than has ever existed before, all in a short amount of time. But this will obviously make more people more distrustful of the monetary system, and easy targets for all kinds of scams, including NFTs.

Chrispy_I don't even know if DeFi is the right answer either