NFT Minting: what it is and why I am furious about this topic

Well, here we go again with these NFTs... I constantly hear about them, but let's break it down in simple terms. Minting an NFT is when you take a digital thing, shove it into the blockchain, and get a "unique" coin. Essentially, it's like writing your photo in a cosmic ledger so that everyone can see that it supposedly belongs to you.

I remember how in 2021 some cunning guy named Beeple sold his doodles for 69 million bucks! I thought back then — you could buy an entire city in Russia for that money! And someone spent it on a picture!

How it all began

All this fuss with NFTs started back in 2012 with Bitcoin's "colored coins". But the real mania began in 2017 when people suddenly decided that virtual cats are cool. I remember, I almost bought one of those CryptoKitties, good thing I didn't have any money...

Where is this blockchain nonsense used

Now, wherever you throw a stone, there are NFTs everywhere. Artists sell their "masterpieces", developers try to push property rights through NFTs (seriously?), and gamers buy virtual swords and armor. Personally, I think this is just a new way to squeeze money out of gullible people.

What is happening in the market

From 95 million in 2020 to 24 billion in 2021 - that's crazy! People have really gone crazy. And the funny thing is that I know a few guys who thought they were going to get rich from it, and then the prices crashed and they were left with worthless pictures worth pennies.

Latest Trends

Now they've come up with "splitting" NFT - this is when you can't even buy a whole virtual thing, only a piece of it. They're also integrating NFT into decentralized finance, although I'm sure most people don't even understand what it's about. Plus, someone is constantly counterfeiting NFT, and everyone runs around shouting "original, original!"

To be honest, all this hype around NFTs reminds me of MMM, just in digital form. Today it's trendy, and tomorrow only those who didn't manage to get out in time will be left. Although who knows... maybe I'll soon be minting my selfies and selling them for millions. In this crazy world, anything can happen!