Can someone explain this NFT thing? I googled it but it’s still confusing. Where is the money coming from?
NFT is like a certificate of authenticity for a digital asset, a picture, gaming character, music track, digital ticket, etc.
For example, imagine you buy a limited edition print of a photograph, owning the certificate of authenticity for your print confers value to that print but as the owner of the print you do not have any exclusivity rights over that photo, you don’t own the copyright of the photo and you can´t sell reprints or use it for commercial purposes, all you have is a certificate of authenticity.
I think the money comes from the same people who pay a million dollars for a drawing of two lines and one square, as long as it is signed by somebody famous. They might be mentally impaired or they probably use it for money laundering and hope for the best, like some other sucker paying the same value when they need to cash it out.
The buyer, same as any other transaction.
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