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The idea of NFT is not scam, but the current scene is more like it. Not exactly like scam but more like a super-hyped balloon.
by can16358p 5y ago
The idea of NFT is not scam, but the current scene is more like it. Not exactly like scam but more like a super-hyped balloon.
- vbezhenar 5y agoI'd expect better technical foundation to sell something so expensive. Like guaranteed formats, guarantees for storing hashes, unique guarantees, some kind of image perceptual hash, some kind of P2P distributed storage for data itself. So even non-technical buyer can be sure that goods he bought are protected. Right now you need to ensure that NFT data is stored on IPFS, you need to ensure that IPFS data including that JSON file will not disappear, you need to check blockchain to prevent multiple sells (and you can't prevent someone to sell dupes in the future). Right now NFT seems like few bytes pretending to be some kind of URL and that's about it.
- can16358p 5y agoSure, I agree with your technical foundation views. What I meant is that the basic idea of NFTs is promising, but the current implementation is nothing practical.
- Kiro 5y agoNone of that matters. What gives NFT its value is that it was minted by X. It's purely a social contract so it doesn't need any technical foundation.