Guy Who Stole Every NFT Gave Them Away Explains The Big Scam

• Geoffrey Huntley right clicked and stole all the existing NFTs and uploaded them to 'NFT Bay' as a torrent to make a very moving point about NFTs.
• YouTuber Coffeezilla tracked down Geoffrey to discuss stealing all the NFTs and giving them away, and the conversation was truly remarkable
• Huntley explains better what an NFT is than the creator of NFT and explains the most common misconception about them.
• Read more articles about BroBible here.

If you randomly stop someone on the street and ask them to explain what an NFT is, they will probably tell you that it is a digital image that someone buys as a work of art. That is the most used explanation I have heard to explain NFTs.

The NFT mania is alive and well. South Park just ran in NFT and explained the hype perfectly. And now there is this amazing video below.

Geoffrey Huntley set out to show that that's not the case at all. He is the creator of NFT Bay, a torrent site that he started after right-clicking and stealing all the NFTs from the internet. He then uploaded each of those NFTs to a single torrent (over 16 terabytes) and gifted them all.

YouTuber Coffeezilla set out to download that torrent to get his hands on each NFT created yesterday because it looked like fun. Instead, he ended up contacting Geoffrey Huntley for an enlightening discussion. The video is below, and it's long but worth watching. In the meantime, I have transcribed some of Huntley's most poignant points.

NFT Bay Creator Geoffrey Huntley Explains What NFTs Are And Why They Are A Misunderstood Scam

Why are NFTs a scam?

Geoffrey Huntley's question is simple, 'what do people who are buying with NFT really believe?' Most of the time, people think they are buying the rights to a digital image or some other form of digital art.

Huntley describes the NFT purchase as one side is 'selling a treasure map' with instructions on how to get to that treasure (treasure = art). And the other side thinks they are buying the real treasure, but what they are really buying is just a treasure map on how to get to the treasure.

He says that what prompted him to create the NFT Bay project was hearing so many people say that 'the image is valuable because it is stored on the blockchain' and that is not the case at all. It's just a hyperlink, as he puts it. Someone who buys an NFT is buying data and that data has a link to where the image can be located (NFT).

Now that I have explained the premise of his NFT Bay project, you can go play that video above because the whole discussion is riveting.