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this post was submitted on 20 May 2024
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Like I said. It's the wild west in that sphere right now. No rules no nothing. But I also think that even the wild west was tamed over time. Meaning I'm not sure if it will stay so unregulated forever.
Right, but the wild west was tamed by increasing regulation, which is precisely what crypto fans want to avoid. The truth is, though, most people won't trust crypto without some kind of centralized authority guaranteeing that their money is safe, whether that be a government or a private entity. This pretty quickly materialized with the NFT craze, which saw the vast majority of NFTs were created on the same two sites, with only the biggest names having their own domains and redundant storage for their images.