Photo by Viktor Forgacs on Unsplash

Dear NFT enthusiasts, can you please give some opinion on following issues with NFT

Arnav Zek
Nov 23, 2021

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  1. Is the environmental impact of NFT worth it?
  2. NFTs are not unique, you can mint NFTs multiple times by using multiple marketplace
  3. Anyone can steal art of someone and create a NFT out of it. NFTs don’t have a system for verifying that the person who is minting the NFT is actually the creator of the artwork.
  4. It is not hackproof. Frontend is still controlled by a central body and it can be hacked

My logic says that creating an open source centralized application where minters will need to provide some proof of legitimacy for example

  • Project file
  • Time-lapse of creating the art
  • Identity proof

will be less prone to fraud and more ethical (environment wise) but I will be happy to know I am wrong.

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