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OK... I Don't Get Why Use ETH

mwokeemwokee Posts: 1,275
in Non-Fungible Token (NFT) Art
Why do you have to convert dollars to ETH to purchase a Daz NFT? Seems to add an unnecessary layer to the process and adds that much more to the cost. I'm still scratching my head over this whole thing, just seems to be a gimmick that some people are willing to buy into.

Comments

  • Richard HaseltineRichard Haseltine Posts: 100,879

    As far as I am aware all NFTs need to be based on a block-chain, that's how they work. Why Etherium was chosen I don't know - though I imagine accessibility was a factor.

  • nakamuram002nakamuram002 Posts: 788

    mwokee said:

    Why do you have to convert dollars to ETH to purchase a Daz NFT? Seems to add an unnecessary layer to the process and adds that much more to the cost. I'm still scratching my head over this whole thing, just seems to be a gimmick that some people are willing to buy into.

    Also, the volatility of Crypto Currencies such as Etherium and Bitcoin add a level of risk that I am unwilling to take. 

  • 31415926543141592654 Posts: 975

    mwokee said:

    Why do you have to convert dollars to ETH to purchase a Daz NFT? 

    At the basics, the virtual world created a virtual currency to purchase virtual (and sometimes real) products. As Richard mentioned above, that is how the system works. Yes, it is an extra hurdle and yes it is an extra risk ... but overall, the NFT market is for speculators and collectors ... not the average person.

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