this post was submitted on 02 Jun 2025
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There is undoubtedly a huge number of rugpulls, vaporware, empty promises, and outright scams with NFTs. But this is true of any nascent technology, any sort of project like this. The reason so many people know about it and are aware about it is because of the permissionless and open nature of crypto which allows people to see these projects in realtime.
IMO it's neither good nor bad. It's just nascent tech. For an artist like Sabet, it's obviously good! It gets people exposed to his art, with a low entry barrier, and allows people to support him. For people like Trump, it's pretty clearly bad, and it just allows him to scam/rugpull people easier and faster.