NFTs are a surprisingly complex concept for people to grasp. The core concept revolves around the ability of people to encode a digital piece (pictures, art, even lines of text) into a blockchain so that you can confirm that somebody has ownership over this asset.
The whole point of NFTs is that they are unique only to you, and once they are in the blockchain, their scarcity is “verified.” There are always innovators who wish to do their own spin on every technology, but sometimes their motives can be questionable.
CloneyMyNFT is a new NFT platform that has confused even the most passionate crypto lovers. The platform lets you clone your NFT and sell the original while keeping a copy for yourself, and the copy remains in your crypto wallet.
CloneMyNFT creates an exact digital copy, which requires the generation of a new distinct contract on the blockchain. Even though the image is precisely the same, the code with which it is verified in the blockchain will be different.
CloneMyNFT justifies the practice with the following words “Many collectors get attached to their NFTs and want to continue to view the artwork in their wallet long after they have sold them. Sometimes collectors have to sell them to realize their assets, but for whatever reason, they often want to keep a reminder of the NFT they once owned, and now they can.”
Critics were quick to point out that the whole idea of CloneMyNFT is rather “pointless” and just another “cash grab.” They point out that the platform, similar to many other emerging platforms that compete for a spot in the market, is desperately trying to create a niche without necessarily offering a product. The reason for CloneMyNFT’s existence is that “whatever reason” may arise, but many find that very vague.
Furthermore, if the value of keeping a copy in your wallet comes down to looking at the picture or piece of art, many wonder why you can’t just keep a copy without involving blockchain transactions. After all, all the witty jokes about people having a ‘copy’ of somebody’s NFT for free exist for a reason.
