NFTs Can Be Fungible (opens in new tab)

So the debate is over and the proof is in the Tweet.

   NFTs can be fungible. Hence this, the bidder won't get what they paid for which implies that NFTs aren't what they say they are and this behaviour is even defined and correct under the ERC721 standard. Therefore, it is a complete scam.

QED.

iirc many NFT systems use IPFS [1], where content addresses and content hashes are the same. Of course, it still requires someone to actually store the underlying file.

A good lesson in buyer beware - many NFTs are being made (and sold) by people who don't know what they're doing.

Another quote from Moxie RE IPFS [2]: > another strange phenomenon is that NFTs which host metadata on IPFS often don't use ipfs:// urls, but rather an explicit https IPFS gateway, which isn't fundamentally that different from some random webserver in terms of what clients are capable of enforcing.

[1] https://ipfs.io/

[2] https://twitter.com/moxie/status/1448162369553637376?s=20