Elon Musk: I dunno.... Nft seems kinda fungible

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In my previous post, I discussed how Nfts has immensely played a huge path for crypto adoption in a short period of time. But I also stated that I think the current idea of Nft is wrong. I mean, the trending orientations of NFT are definitely on the wrong path to blockchain adoption.

I have so many reasons behind that statement and I was ready to share them in my next post. But just as I was preparing to compose the article, I got a Twitter notification from Elon Musk which says and I quote;

I dunno … seems kinda fungible

I didn’t grab the meaning of that tweet at first glance until I looked up to his profile and saw that he recently changed his display picture.

Guess what? He changed it into an NFT image.


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Immediately I noticed that it was an Nft profile picture, his latest tweet now made sense to me.
https://twitter.com/elonmusk/status/1521807738317066240

For those who don’t know, Nft is an abbreviation for Non-fungible tokens. And if you’ve been following the recent trends, you’ll notice that it’s always claimed to be a unique item. But now what?

seems kinda fungible

So, Elon woke up today and randomly found an Nft online and used it as his Twitter display picture then followed it up with the stated tweet above. This is how he proved to everyone that It’s Fungible after all.

Does Elon own the Nft he used?

Well, No! It’s owned by a Michael bouhanna just a random guy on Twitter who uploaded that Nft image to promote his project.

He came after Elon when he found his image on the richest man’s profile. He requested that Elon should remove it or give him his credit.

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Elon’s Impact in the market

There are several types of Nfts online but Elon decided to go with Bored Ape Nft. Immediately he made it his display picture, the Ape coin pumped.

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But as shown above, the bored ape coin turned south after Elon followed up with the tweet. I dunno … seems kinda fungible

My take

Nft is amazing only when they’ve got real use cases, like how they are being used in games. Any Nft idly seating on the internet hoping someone buys it is no doubt fungible and useless.

What's your take on Nfts?

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You've proved the whole point with the gaming industry bringing the use case part to life for us.

I don't fancy NFTs from the start but since the gaming world is now fully integrated into it, I have been in love with the gaming part of it but not so much about paying thousands of dollars for a profile picture

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I have also not been a fan of Nfts except for the Hivefolks that I got some time back here on hive.

But if the nft industry really wanna win people’s heart, it should be used for in game play and other uefull use-cases and nothing else.

Nevertheless, it’s has really done well in terms of blockchain adoption.

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Yes, you are right.

We need to have more use cases to build more trust and that's what the crypto-verse is all about. Trust.

It going to keep doing well too, in the future even if it's not as we might have expected, but the gaming part will skyrocket with time.

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It's really great to have NFTs in the gaming world, and the gaming world needed this or something similar. But investing money in NFT just as a picture is not for me. It makes more sense for me to buy crypto assets instead.

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My points exactly. I wish the crypto industry focuses on that side rather than what it is right now.
Another cool use case. Nfts could be used as meetings invites too.

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