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To add a perspective outside of high value art - NFTs have an interesting potential to change the virtual goods space ($XX billion dollar industry). Today Fort
by bhawks 6y ago
To add a perspective outside of high value art - NFTs have an interesting potential to change the virtual goods space ($XX billion dollar industry).
Today Fortnite and games like it get major revenue streams via selling special skins, game items and other art work. Now name a property that let's you trade or gift items? If you can name any - do they let you trade on ebay? How many platforms let 3p artists contribute to the platform? I don't think you can honestly describe this market place as anything but primitive.
NFTs solve the hard problem of accounting for virtual goods in a wildly open, secure and interoperable way. They can codify an incentive structure that allows trading on a secondary market while ensuring creators, platform owners, and even former owners can receive percentage royalties. You could easily imagine Fortnite's Ninja streamer selling one of his skins on a stream to a fan for a significant premium - and some of that revenue could be codified to flow to the platform, the artist that made it, heck ninja could set it up that any later sales send 5% to a food bank.
Thats just one reason for me why NFTs are a high potential technology. Are there challenges? Tons of them (look at eth gas prices...) But it doesn't seem insurmountable. Ultimately there is utility and value. Definitely not hype.
- anonisko 6y agoIt could get even more interesting if you have some NFT domains that are shared between different virtual realms, like different video games or social media sites. Imagine owning a username in the form of an NFT, and every MMO game that integrates with that system will ensure that the owner and only the owner of that name can can use it in game.