The problematic NFT scene
Let's face it: there's something wrong in the NFT scene. This is an overview of what we think can be better within the community
Intro:
Although the problems cited here are in blockchain projects in general, it is remarkable how the NFT market shows so many vices that in the long hall will mitigate the huge potential of the NFT community and its engagement.
1) NFTs and Art:
The relationship between art and its new means of expression has been troubled throughout history. In this article, we have a detailed explanation of this relationship and how it changes over time. Because of this, we can take inspiration from these experiences to understand how NFT and Art are related and how this relationship can change. In this article, we explain how graffiti and urban art changed their status as art as the relationship between art and these mediums evolved.
2) Fraudulent or poorly written smart contracts
How many cases of NFT's scams have you seen? It's impossible to keep track because there's simply too many. Even some projects with teams full of respectful people produce fraudulent contracts that end up either being easily exploited, or allowing metada alteration and many other issues to take place. This begs the question: why there are so many bad smart contracts?
3) Amateurism
The problem is the sheer amount of amateur teams that are behind the development of these smart contracts, and the amateur relations within those teams. Not only that, but as newcomers get to understand how much money these amateur team make with such fraudulent NFTs, they start to create new amateur teams that simply copy those fraudulent contracts and so a cascade of NFTs scams, hard and soft rug pulls happens.
4) Community's lack of knowledge
However, this amount of scams indicates that there is also another flawed element in the NFT scene. If people who are part of the NFT community had a better understanding of how smart contracts work and how scam teams act, most of these projects would cease to exist, making room for projects like Yung Pixels and others that represent a necessary change to the bigger picture. That's why our team has produced so many texts and other content that can minimally educate and therefore protect the community from scammers
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