31 lines
1.1 KiB
Markdown
31 lines
1.1 KiB
Markdown
# Non Fungible Token
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A type of [smart contracts](smart-contracts.md) that associates a tradable [crypto asset](cryptoasset.md) with a unique piece of data, often a url to hosted image representing some abstract or perceived notion of ownership in [art](art.md) or [sign value](sign-value.md). Since the tokens have "unique" data associated with the token it is non-fungible unlike other crypto assets which aspire to be a fungible [private money](private-money.md).
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NFTs have no [fundamental value](fundamental-value.md).
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NFTs are a [speculative asset](speculation.md).
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NFTs have no [use value](use-value.md).
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NFTs have been critizied as having a payout structure similar to a [pyramid scheme](pyramid-scheme.md) or [multilevel marketing scheme](mlm.md).
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## Duplication
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#todo
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## Multiple-chains
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#todo
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## Link Rot
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NFTs have been critized as having no relationship to the underlying artwork and being subject to link-rot.
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See: https://thenftbay.org/
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## Redefinition of Ownership
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#todo
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## Tinkerbell Effect
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* [@bodo_rise_2022]
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* [@diehl_tinkerbell_2021]
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* [@olson_line_2022] |