- Elon Musk highlighted that NFTs are sometimes simply URLs linking to JPEG pictures.
- Musk goals to remodel X right into a one-stop monetary resolution for folks.
In a current look on the Joe Rogan Expertise podcast, tech mogul Elon Musk shared his perspective on ordinals on the earth of NFTs and the inherent dangers inside the crypto area.
Elon Musk expressed considerations in regards to the excessive variety of scams within the crypto world, notably within the case of NFTs, which he deemed largely questionable. It additionally emphasizes the necessity for higher safety and permanence within the NFT world. He said that;
The NFT isn’t even on the blockchain; it’s only a URL to the JPEG. It is best to at the least encode the JPEG within the blockchain. If the corporate housing the picture goes out of enterprise, you don’t have the picture anymore.
Elon Musk’s return to the podcast realm with Joe Rogan comes after a two-year hole and holds a particular place within the international podcasting panorama. Their dialogue promised insights into Musk’s current ventures, with a specific deal with his high-profile Twitter acquisition.
Past his Twitter takeover, Musk’s goals are increasing, with a notable pivot towards the monetary sector. Studies counsel that X (formally generally known as Twitter) is aiming to change into a one-stop resolution for folks’s monetary wants. This imaginative and prescient positions X as an revolutionary various to conventional banking, providing customers a platform to seamlessly handle their funds and funds.
What do you consider Elon Musk’s views of NFTs, particularly when tied to exterior URLs fairly than being absolutely encoded within the blockchain? Tweet to us at @The_NewsCrypto and tell us your ideas.
