Because no matter how many times misinformed critics call NFTs a "scam": there is something inherently honest about them: pay money, get a collectible. There are no financial instruments here that can be misunderstood.
Because no matter how many times misinformed critics call NFTs a "scam": there is something inherently honest about them: pay money, get a collectible. There are no financial instruments here that can be misunderstood.
What is "a collectible"? There's what all the grifters say they are/can be. That's where the dishonesty comes in.
All scams are technically fundamentally honest - pay money, get rock - once you remove all the parts that are dishonest.
It's like a Bitcoin, but we say instead of saying it is digital gold, it represents a picture of a monkey instead.
It can absolutely still be a scam. Wash trading is trivially employed to inflate the price of the "bid money" step, fraudulently suggesting the existence of demand when there is none.
It's much easier to pay off some influencers.