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Of all the hilariously stupid things coming out of the scammy world of crypto, NFTs take the biscuit. I've been hearing A16Z and other VC podcast breathlessly t
by Grustaf 6y ago
Of all the hilariously stupid things coming out of the scammy world of crypto, NFTs take the biscuit. I've been hearing A16Z and other VC podcast breathlessly talk about the brave new world they enable. Now you can have digital assets in games, people can buy them with real money! Finally, because that's of course not possible without The Blockchain (tm).
And people can use them to prove ownership of physical things, TRUSTLESSLY. Because it's so much safer to have decentralised system of digital bearer shares, than a central registry run by the government or a bank, right?
Oh but it's for third world countries where the state is not to be trusted. Of course that also means you can't trust them to enforce your digital bearer shares either, but that shouldn't be a big problem. We'll just get all the farmers and villagers to agree on using one particular blockchain bases system to keep track of who owns what land. What could be simpler.
And if you thought that was stupid, enter NFTs for digital art. Yes let's use advanced technology to create digital tokens that can't be copied, and use them to track the ownership of digital art that can be copied indefinitely. Brilliant.