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I dislike NFTs for the use in "art ownership" in which sense it may be a bubble/fraud, but the underlying tech has good foundation for practical uses. It is use
by high_byte 5y ago
I dislike NFTs for the use in "art ownership" in which sense it may be a bubble/fraud, but the underlying tech has good foundation for practical uses. It is used as gaming items and as tokens for debt and probably some more, but I'd like to see it used for certifications, deeds (apartments, cars). the problem with art is NFTs can be minted infinite times, hence it's not an N-FT, it's a perfectly fungible token...
- pkdpic 5y agoYeah I've wondered about that since they first started gaining popularity. The series-oriented nature of minting 100 different colored bear gifs with the artist's promise that there will be only 100 doesn't strike me as terribly non-fungible. Obviously they can all become worth different amounts as they sell / resell but still something just seems fundamentally off there.
- high_byte 5y agowhat I mean is worse than having colir vareity: there can be 1000s of NFTs without any vareity, except for the index in the series. this can be useful if you buy 1000 spots ("tickets"), and I guess it makes sense for artist to make limited edition prints... but with digital art is pointless.
- kalleboo 5y agoUsing NFTs for deeds sounds like the worst idea ever. So now if you get malware on your computer, you lose your house?
- pjc50 5y ago> deeds This problem was solved by centralized databases in 1617. https://www.ros.gov.uk/our-registers/general-register-of-sasines https://www.ros.gov.uk/our-registers/general-register-of-sas...