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NFTs Are More Than Just the JPEG
In the same way ICOs were a complete laughing stock, NFTs are acomplete laughing stock now. But what we saw is the transformation of some ICO tokens. At least the utility is some governance participation with the potential promise of future cash flows. This would imply that NFTs add some sort of utility. And so I think we start to look like these NFT like communities starting to look like some sort of prototype network state idea in the metaverse.