This is a post in response to @atamme’s question, “Do you think people should be more educated when it comes to NFTs and their value?”
I do believe that people should be more educated about NFTs and their value. Starting simply with the breakdown of the acronym and what exactly non-fungible token means can open the door to much more understanding. I, for one, did not really have a good idea of the concept before coming to this class, although I had heard the term thrown around between friends and on social media. I recently read a definition for NFTs on the internet that said that they are “physical collector's items, only digital.” To me, this sounds sort of counterproductive because these “tokens” are digital, yet physical, and to me, digital is not at all physical. Digital is viewable, yet intangible because we will never be able to get a true grasp of what exactly we are investing in. Personally, I think that we are all getting a little too involved in web-based trading and investments, and I wish that we could just do it the old-fashioned way. We should focus on investing in brands and companies that we actually use in day-to-day life much like Warren Buffet has done, investing in his favorite companies such as Coca-Cola, American Express, and Kraft Heinz.
I would be curious to know how financial education courses adapt in the future. Currently, they are very limited and teach about the basics such as budgeting, credit cards, and financial fraud. Maybe one day NFT purchases will be so integral to our daily lives that they force themselves into public school curriculums. But for me, I would rather invest my money in a reputable company that I am able to physically touch and relate to. That is where I find true value.
