99% of the NFT market is a scam. Near all of the biggest deals (the $10M splashy headlines) have been proven to be inside scams.

There's absolutely a use case here-- ie, I'd love to own 0.01% of The Godfather! But modern art is trash, and digital modern art is essentially worthless. I'm hoping that 99% of the industry dies, and some good stuff arises.

But there's a challenge: The SEC will almost certainly deem asset-backed NFTs and securities, and move to limit investment access like they have with accredited investors. And so the rich get richer, and the poor continue to get poorer...