You're all just haters, non-fungible token does exactly what it promises.
Have you ever seen fungi growing on an NFT? Mold? Mushrooms? No? Then it's working.
this post was submitted on 09 Aug 2023
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I've always held that Non-fungible is a typo. It's meant to say non-functional token.
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NFT is not ART. It is digital ledger that says that the art belongs to someone (you, for example). The art itself can be freely copied. NFTs are not copyright enforcement.
There is no art involved. A file is way too big to be stored in the ledger. They just point to a url which is very much mutable, can go down, or change to whatever the fuck at any given time.
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Yes. But you don't own the art or the right to it, just the token leading to it. You literally don't have the rights to the image so you cant copyright enforce it.
All you have is a line in the ledger stating that you own it (and who sold it to you). Whether you can enforce copyright through the courts, is very separate issue, and not NFT function.
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Not the art. The token. The ledger only says that the token belongs to someone.
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Bringing scarcity into an inherently post-scarcity environment (digital) is always going to be a stupid and evil idea.
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NFTs as certificates of authenticity are excellent. NFTs as most people know them are schadenfreude.
NFTs aren't used as certificates of authenticity. TF does that even mean when talking about digital assets.
Unless you actually get the rights for the art legally recognized (basically no NFTs are) then you are trading pointers, easily minted with absolutely no actual legal power.
The owner of the asset can kill the destination of the nft pointer with a well aimed lawsuit.
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once someone says something it can't be changed or unsaid.
My problem isn't that someone might have tampered with what was said. A paper certificate does that just fine, if i keep it in a safe place. My problem is that anone can say anything on the blockchain and most of what is said is bullshit.
The mona lisa is not owned by some random dude, but there exists a "very reliable, immutable, trustworthy" certificate that says it does.
Tldr: the problem with nfts are that they are bullshit before they become immutable, and will remain bullshit forever once minted, because they become immutable.
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I hate the monetization that people want to force on everything. Especiallt when done through NFTs.
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The tech behind NFTs is still fascinating and should be used in the future.
Blockchain has more uses than just digital currency, too.
Serious question:
What are the advantages over a centralized database?
One example of using NFTs I like is event tickets. Event tickets are already prone to "just copying" because they're already basically a PDF. So the fact that you have to protect subjects attached to NFTs from counterfeiting is not an issue in case of event tickets, because you have to do that anyway.
BUT using NFTs for event tickets can solve the problem of scalpers, because they use "smart contracts". So you can create a smart contract for each ticket that forbids reselling or allows reselling only at original price, or that each resell provides a markup for the original issuer (eg. the artist).
So NFTs don't solve all of the problems, and nothing really solves all problems. But they can solve some problems, and that's what we want. I'm not a fan of Blockchain myself, because it has many problems. But I can see it's potential when the infancy problems are solved.
How is this better than a centralized database? You can just go to the event organizer's website and check the original price for the ticket.
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NFTs could be useful if they were standardized, internationally recognized tokens of ownership or temporary ownership that were separate but bound to digital content like books, music etc. via meta data within the media. That would facilitate people buying and selling content they own, or lending it, or giving it away, or just destroying it.
The problem is NFTs are not that at all and never will be in their present form. They're just a springboard to launch a thousand scams to separate idiots from their money. e.g. "Give me $10,000 and I'll give you a token representing your rights to an acre of land on Satoshi island". LOL. Or "give me $$$ and I'll sell you a url to a randomly generated picture which will be immensely valuable". LOL. Or the Logan Paul special "give me $$$ and I'll sell you eggs you can hatch in a game and that will be immensely valuable except I'll shitcan the game and just keep your money" LOL.
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NFT bros when I hit PrtSc (their so-called "unique art" is now completely fucking worthless)
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If the viewer of the artwork doesn't give a shit if you have a receipt for the artwork on a mysterious computer network, or if it was just copied and pasted, then there is no intrinsic value to artwork based NFTs.
Browsers and clients also download a weppage and its contents when browsing a website because that's how the internet works so everyone who looks at an nft has a temporary copy of it stored somewhere on their device
And they're trying to dictate what you can do with webpages through that whole Web Integrety thing too.
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NFTs are just a number that you purchase, I don't know why anyone thought in the first place that it had anything to do with actually purchasing art itself
Also the sad thing is that the NFT apes aren't actually bad art. They are fun little avatars, but NFT-bros have ruined them.
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Seriously, why did the focus of monkeys and dogs with cigarettes in their mouths become the main images for NFT's?
Because people pushing pump and dumping it were good at PR.
because they were easily generated by a bot (not a stable diffusion AI, just one that mixes and matches templates)
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I mean, I understand the idea perfectly.
Doesn't mean it isn't a completely fucking retarded idea though. Literally unique/limited items in MMOs except you can't actually do anything with them.
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This is my absolute favorite NFT
The Coolcumber by Kassem G from Attack of The Show
The coolcumber has been a featured guest on my twitch stream ever since.
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