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What happened to NFTs and what where they in Retrospect?
(pawb.social)
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this post was submitted on 18 Sep 2026
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The token would have a designated link stored on the blockchain (public ledger) that pointed to what you "owned".
So you bought a monkey or whatever, you received a token. When you looked up that token on the block explorer it would have a link to the "original" jpg that you "owned".
Why do this? Cause people are stupid and you can sell monkey pictures for big money (back then). What happened to them? People realized how stupid NFT pictures of monkeys were.
There was a possibility to use a decentralized proof of ownership of digital goods for something not stupid but that never materialized. I still somewhat like the idea of a NFT concert ticket that can be sold and transferred without needing a third party middle man like stubhub. The receiver would be able to verify they were receiving the ticket they were buying was what they wanted and the seller wouldn't be able to counterfeit the ticket due to the non fungible nature.
But yea that never happened and NFTs got the hate they deserved and people moved off of them to the next get rich quick scheme
Replicating and storing concert tickets and all related transactions indefinitely is still pretty ineficient though (only exception I see is Mina).