Common Myths and Misconceptions About NFTs
Despite their popularity, NFTs are often misunderstood. Here are some common myths:
Myth #1: NFTs Are Just JPEGs and Can Be Easily Copied
While anyone can copy an NFT’s image, only the owner has verifiable ownership rights stored on the blockchain.
Myth #2: NFTs Are Only for Artists and Collectors
NFTs are used in gaming, real estate, identity verification, and decentralized finance (DeFi).
Myth #3: NFTs Are a Get-Rich-Quick Scheme
While some NFTs have sold for millions, the market is highly volatile, and success depends on strong projects.