I still think NFTs and NFT-like things are silly ideas. Whether they're called "inscriptions", "digital deeds", or "bobs". And the blockchain used to secure them is of no consideration to my argument.
If I ever see compelling utility, I'll be open to changing my mind, and I'll let y'all know.
Their utility currently is to make mining extremely profitable
The utility is gambling and pulling of rugs.
It’s the only that explains grown ass men being into jpgs
Also: I'd like to see someone try and enforce their property rights, without resorting to very expensive lawyers and courts -- assuming you can even bring a claim in the attendant jurisdiction of the rights-violator. Then I'll be impressed. Until then, an NFT adds literally zero utility to a standard copyright mark and proof of prior art. The argument of course, is the existence of a liquid secondary market. But what the hell kind of secondary market can sustain, absent those guarantees?
Has any nft gained in value over time? The only headlines I’ve seen is them losing most of whatever perceived value they had.
What about the idea of using NFTs to designate ownership of certain items (e.g. a concert ticket or digital movie rights)?
It's just playing make-believe stateless society. nostr:note1072u4n66n9km4wvhmw0czg0xcgdef6j8cp34hvj0tc4xne4f64yqx4wq2s
I don’t think the scenarios I’ve mentioned would need enforcement in the manner you’re talking about in the referenced note. What I’m talking about - for example - is that when you buy your next kindle book or prime video digital title, you get an NFT that grants you access to that content. But, should you ever sell that NFT, Kindle/Prime will no longer serve that content to you and only the new owner of the NFT gets access.
Sure. But I think if there was such strong incentives by rights-holders to create secondary markets for these things, we would have already created them. We don't need NFTs to pull it off.
Somewhere buried deep in the sea of scams and grift is a really neat channel for artists to distribute directly to consumers. I’ve seen some cool art concepts, like Scales by Anna Judd, create neat new ways of engaging with and collecting art pieces.
Of course, price was never a factor with this project, and that’s kind of the point. Most of the content produced in the space is a low-effort, thinly veiled pump and dump *at best*.
Take it from a guy whose PFP is a $300 jpeg of a duck wearing sunglasses and smoking a cigarette.
Try enforcing your property rights without resorting to the state in exactly the same way you would with a standard copyright mark.
Didn’t say it was any different in terms of enforceability of property rights, but at least you can prove to other collectors that you bought the thing and what its provenance is, which is what matters most to those who care about the art in the first place. Like I said, it does create a cool new distribution channel, but most of the good in the space is drowned out by hot garbage.
How about wills and updated wills, verifiable based on tx blockheight?
You can use https://opentimestamps.org/ to timestamp documents into Bitcoin blockchain already. NFTs don't help. Problem is that of course I could NFT timestamp many different wills as well. Neither helps with uniqueness.
I'm agreeing. Don't see much value outside collector type thing I guess similar to autograph and/or baseball card type collections. Even then those collections involve the original card or autograph. This is more like owning the digital signature. Edge use case in my opinion.
Only good use case I see is for things like concert tickets that can be collected (like paper stubs). Or I made a demo of a IRL scavenger hunt where each place scan a QR for a token to show when and where scanned it. Art NFTs are just the blind hoping for utility.
Still not a good use case. I addressed this specific use case as not compelling in this podcast I did last year: https://www.youtube.com/watch?v=u5YtHp4TS2Q
The vast majority of them are scams and junk, but there’s a lot of potential there imo. Good infrastructure just hasn’t been built yet.
They’re a good way to verify authenticity, provenance, and ownership. Already there’s been token gated websites, content, events, games and virtual wearables and items.
They also have the potential to help artists, musicians, and other creators, but unfortunately rn the space is full of gamblers who treat NFTs like shitcoins.
