Craig S. Wright, who often came to the fore with Bitcoin founder Satoshi Nakamoto discussions and tried to defend his claim in the courts by saying “I am Satoshi Nakamoto”, but was unsuccessful, lamented about NFTs!
Speaking at an online training he attended, Wright stated that NFT artworks(!) are being sold as valuable tokens despite all their worthlessness and explained why this is wrong.
Talking about how NFT technology can find better use cases in the business world as well, Wright said, referring to a popular NFT art marketplace website:
They are completely devastated. (…) This is nonsense, lousy fake art that sells for a lot of money, especially for money laundering.
Wright also discussed an NFT artwork that sold for $500 million and stated that the seller and the buyer were the same person(s), claiming that such behavior led to fraud.
According to Wright, for something to be considered a valuable work of art, it must first be “something that can actually be owned”. Whereas owning an art NFT gives no rights or real property rights to its buyer. Anyone can copy or save that image and publish it anywhere. If that happens, complaints about property rights are often ridiculed.
Saying that the purchased product should work cross-platform and should not lock you into a particular service, Wright pointed out how much money is in the middle, considering the size of the NFT market.
NFTs are not about silly little images. They have to be about building something that really changes the world.
said.
According to him, NFTs are not for frivolous works of art on the market; It should also be usable for passports, digital identity, health, other personal records, and even voting. The most important thing to do with NFT is to make smaller-scale trials to identify potential problems. Unless this happens, NFTs will simply remain as money laundering instruments.