Question regarding NFT`s

[bogdy23]

Hello Guys,

Didn`t know where to put this one so I decided to put it here. I have a question. NFTs are built on blockchain.

 IF the governments start banning the use of cryptos all over the world If a global financial crisis comes and cryptos start to plummet how will NFTs handle themselves will they also collapse.

Can Governments interdict the use and existence of NFTs? Do NFTs have a shadowy construction like Bitcoin which might get banned for being anonymous and used to buy drugs or other illegal things?

How will NFTs fair will they survive can they be still functional and governments can`t do much about it?
Thank you
B.

[vv181]

IF the governments start banning the use of cryptos all over the world If a global financial crisis comes and cryptos start to plummet how will NFTs handle themselves will they also

Yes.

Can Governments interdict the use and existence of NFTs? Do NFTs have a shadowy construction like Bitcoin which might get banned for being anonymous and used to buy drugs or other illegal things?

First and foremost, Bitcoin is not built with "shadowy construction". And Bitcoin is pseudonymous, not anonymous. Also, it's not merely used to do illegal things. Regarding NFTs, NFTs that are stored in centralized services might be ceased.

can they be still functional and governments can`t do much about it?

Some NFTs are built on top of a fragile platform. So it is not really decentralized and the government can do whatever they want.

[blockman]

IF the governments start banning the use of cryptos all over the world If a global financial crisis comes and cryptos start to plummet how will NFTs handle themselves will they also collapse.

Well, even if they handle it well, they'll be sucked by the whole market which is relying on bitcoin. So if bitcoin is low, it'll also be low.

Can Governments interdict the use and existence of NFTs? Do NFTs have a shadowy construction like Bitcoin which might get banned for being anonymous and used to buy drugs or other illegal things?

Yes, the common belief by many is all about money laundering.

How will NFTs fair will they survive can they be still functional and governments can`t do much about it?
Thank you
B.

Whether there is government intervention or none, NFTs are also market dependent so as long as they've got volume, they'll stay but the question is, what if that volume is low? Then, it's mostly a dead NFT.

[crypto-project]

The government can intervene in the global adoption of crypto by issuing various regulations, but that does not mean the government will be able to fully control the circulation of crypto, especially NFT. It is true that when the government issues regulations, for example by prohibiting the circulation of crypto, it will affect the price of crypto itself, but that does not mean that everyone around the world will comply with it, there are still people who care and will continue to use crypto in their transactions. So, in my opinion, the NFT itself can be regulated by the government, but they cannot fully control it.

[Reid]

IF the governments start banning the use of cryptos all over the world If a global financial crisis comes and cryptos start to plummet how will NFTs handle themselves will they also collapse.

Yes, particularly if that NFT is valued at a crypto price and not the USD.

Can Governments interdict the use and existence of NFTs? Do NFTs have a shadowy construction like Bitcoin which might get banned for being anonymous and used to buy drugs or other illegal things?

Yes, claiming it's abuse as being a money laundering tool. Yes again, as long as there is value for the NFT that is being bartered for drugs or weapons or any such things.

How will NFTs fair will they survive can they be still functional and governments can`t do much about it?
Thank you
B.

For other countries, I think as long as there's no big event that includes the use of NFT for illegal acts, I don't think they will care yet.

[Coin_trader]

Hello Guys,

Didn`t know where to put this one so I decided to put it here. I have a question. NFTs are built on blockchain.

 IF the governments start banning the use of cryptos all over the world If a global financial crisis comes and cryptos start to plummet how will NFTs handle themselves will they also collapse.

Can Governments interdict the use and existence of NFTs? Do NFTs have a shadowy construction like Bitcoin which might get banned for being anonymous and used to buy drugs or other illegal things?

How will NFTs fair will they survive can they be still functional and governments can`t do much about it?
Thank you
B.

NFT is stored on Blockchain while Blockchain is decentralized and no one is controlling it so NFT will survive no matter how government crack it for as long blockchain will still exist freely use by users.

The government can only restrict there citizen to use NFT but they cannot directly touch or destroy it since no one is controlling when it was already wrapped and stored on the blockchain unless the owner itself will destroy it voluntarily. There's no need to worryuch about the fate of NFT or crypto in general. There's no way it will be destroyed unless there will be no internet connection around the globe.