Crypto News

NFTs May Have Become Society’s Newest Status Symbols


Click Her to Visit The Blog That Will Solve All Your Business & Financial Needs

We could even argue that an NFT makes for a better status symbol than real-life items. This is likely going to sound blasphemous to some, but hear me out.

If you bought a Lamborghini, it would be difficult to show it off. Beyond the people who see you drive it—if you drive it at all—no one else knows of your new Lambo.

You could post car pictures online, but that’s unlikely to generate any reactions. Why? Well, People cannot immediately confirm whether your Lambo is original or a cheap knock-off. After all, this isn’t the first time someone on social media would try to fake wealth by posting deceptive images.

However, you could use a popular NFT as your avatar on a social network like Twitter—and people would pay attention. And if you could prove that your NFT is the real deal, perhaps by showing the metadata? Mission complete.

5

Steph Curry shows off his BAYC NFT to his 14 million Twitter followers.

On a large social media platform like Twitter, thousands, if not millions, of people will have no choice but to notice that particular NFT. Plus, no one would accuse you of owning a fake since Twitter allows you to verify ownership of NFTs.

In a way, NFTs are perfect for today’s world of hyperconnected online communities. As more people spend time in virtual worlds (i.e., “the Metaverse“), NFTs will acquire as much importance as physical status symbols.

6

Twitter now allows users to use and verify NFT avatars.

A Reply to Critics

As with any cultural phenomenon, the topic of NFTs has attracted huge debate online and offline. Critics have been particularly vocal, calling them “worthless pictures” and describing the NFT boom as a case of Tulipmania.

Disclaimer

The information contained in this post is for general information purposes only. The information with the title NFTs May Have Become Society's Newest Status Symbols was provided by one of our contributing author on TmZ.NG, and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.

Previous page 1 2 3 4 5 6 7 8 9Next page

Related Articles

Back to top button
X

AdBlocker Detected

Please disabled your AdBlocker to enable you use our website seamlessly