6 ms·
Not only is this a small sum of money for Visa to throw away, this is a small sum of money for an NFT collector to throw away. To me most criticism of NFTs is
by rattlesnakedave 5y ago
Not only is this a small sum of money for Visa to throw away, this is a small sum of money for an NFT collector to throw away.
To me most criticism of NFTs is reminiscent of criticisms of modern art. Very few understand the scope of what "non fungible token" means. There are PLENTY of use-cases for a publicly verifiable token issued by a 3rd party and owned by you, other than art, if you just use a little imagination.
- manigandham 5y agoWe already have (digital) ownership that can be publically verified.
- thebean11 5y agoAnd traded permissionlessly? I don't think so..
- manigandham 5y agoWhat's that actually mean in this context?
- thebean11 5y agoIt means there's not a 3rd party that can prevent the transaction, reverse the transaction, or initiate a new transaction without the current owner's permission. For example, Steam games can be traded user to user on the platform, but it's all at the whims of Valve. At any moment Valve could shut down, freeze your account, disable trading etc.
- mikro2nd 5y agoAbsent a trusted third-party? Please show us.
- Retric 5y agoJust like the cloud still runs on physical computers, NFT’s require a trusted 3rd party. For example crypto art can be uploaded that’s a direct copy of someone else’s artwork. Copyright doesn’t care about the NFT at that point you don’t own the image.
- manigandham 5y agoOwnership doesn't exist in a vacuum. You need laws and rights, which requires courts to adjudicate and police/military to enforce; and that in turn requires trust in a governing state actor. For NFTs specifically, you still have to trust whatever chain and transaction says you actually own it. And there's nothing that stops someone else from also claiming they own the original except for the centralized statement of the originating party; nevermind the fact that digital bytes have no "original" anyway.
- the_gastropod 5y agoMind sharing just one?
- criddell 5y agoMoney laundering.
- cle 5y agoENS is a DNS alternative that is not controlled by ICANN, where ownership of a name is effectively an NFT. Why might you want that? See https://www.eff.org/issues/icann https://www.eff.org/issues/icann
- randall 5y agoNot to mention that IP address blocks are effectively the original NFT.
- randall 5y agoConcert tickets, where the artist gets a pct of fees on scalping.
- prestigious 5y agoNo reason all concert tickets aren't NFTs in the future.
- ahtihn 5y agoWhy do you need crypto for that? Just make a standard ticket ecommerce site and add some functionalities for ticket resale.
- quartz 5y ago> Just make a standard ticket ecommerce site and add some functionalities for ticket resale. A generalized system for selling and validating ownership of digital things makes implementing ticketing easier than building an entire digital ticketing ecommerce site up from scratch. Ethereum gives you digital wallets, ownership tracking, ownership verification, resale markets via 3rd parties or p2p, and digital wallets natively.