As a salesman who’s been able to survive the pandemic thanks to selling multilevel marketing schemes, honestly nothing is bad about them per say.
I don’t understand why it is that people have this inherent attitude that “it’s good when artists get money, no matter what”. I mean fair enough if you sell some art, but that’s not what NFTs are, they are risky investments bought because of the investment aspect. And while yes, as they say “in an up market there are no losers” it still might be the case that the losers will show if it collapses just like any Ponzi scheme or pyramid organization, and that will leave all the “suckers” at a loss. And I can’t agree that this is all ok simply because the snake oil salesmen where also artists this time around and not just selling certificates allowing others to sell water filters.