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Are NFTs Just Glorified JPEGs?
A lot of people have been finding the idea of NFTs laughable. Absurd even!
As in, how could anyone spend so much money to “own” a digital copy of an image that others could have for free!?
The idea behind NFTs is not new. It has just been revolutionalised.
Anyone could have a picture of their favourite celebrity saved on their phone. But the person that was behind the camera and took the picture owns the copyright. They get to decide the commercial avenues for their image. They also get to benefit from the proceedings from that.
You could even have a copy of valuable art pieces - The Monalisa, The Night Watch or a Picasso hanging on your walls. But what would their worth be? Would you be in possession of the real painting? Or would your possession of the copy take value away from the original?
Of course not!
Yours is but a forgery! A copy! The real painting is gaining value under secure protection at whatever art gallery, museum or private collection it’s hanging at!
Think about the original Monalisa as the NFT and the image you have of it on your phone or wall as a JPEG.
