The warnings are therefore flying around the ears of Sweden Email List experts from all sides . And not just with the general financial warnings for sharp price falls and therefore loss of investment. NFTs are recorded on the blockchain. Even though this technology has been well developed in many areas in recent years, NFTs are still relatively new. Garrett Hardin described this beautifully as ‘ tragedy of the commons ‘. If there is a Sweden Email List resource that everyone has an individual incentive to exploit, it will eventually dry up for lack of regulation or common standards. I now see this happening in NFT land and that makes finding the golden egg almost impossible.

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Also read: What are non-fungible tokens (NFT) and what can Sweden Email List do with them? 2. 404! Artwork not found The number of cases of people who suddenly lose their NFT and receive a 404 message in its place has increased very sharply. As the owner of an NFT, you are really Sweden Email List on the platform where you bought the NFT. Just like for cryptocurrencies, there are no clear laws and regulations that indicate what your rights are. You can therefore not knock on the door of any authority if a platform is down or if you Sweden Email List a mistake yourself when digitally storing your NFT. As a digital thief you no longer have to go to a museum with a crowbar in your bag.

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You can rob a digital museum from home. With the craze Sweden Email List around the world in the field of NFTs, the number of reports of digital robberies and scams has risen sharply. 3. Not your keys, not your art As with cryptocurrencies, an NFT is managed by a so-called ‘private key’. This is a cryptographic key of numbers and letters. Just like with cryptocurrencies, you can store this key on your own digital or physical Sweden Email List , or have it stored on the exchange where you bought it. In the latter case, the platform holds the private key. In a recent hack of an NFT exchange Nifty, all keys were stolen and moved to the wallets of the hackers. As a result, the original owners lost their NFT. The hackers only have the private key to the wallets of the hackers. Due to the cryptographic background, these are virtually unbreakable.

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