Below the fold I look at the details, but the TL;DR is "not so great"; NFTs as the basis for a financialized Web have six main problems:
- Technical: the technology doesn't actually do what people think it does.
- Legal: there is no legal basis for the "rights" NFTs claim to represent.
- Regulatory: much of the business of creating and selling NFTs appears to violate securities law.
- Marketing: the ordinary consumers who would pay for a financialized Web absolutely hate the idea.
- Financial: like cryptocurrencies, the fundamental attraction of NFTs is "number go up". And much of the trading in NTFs was Making Sure "Number Go Up". But, alas "number go down", at least partly because of problem #4.
- Criminal: vulnerabilities in the NFT ecosystem provide a bonanza for thieves.