Ask HN: What do you think about NFTs? • Hacker News Board

Re: Ask HN: What do you think about NFTs?

#11

Post by dropnerd » Tue, Jun 07, 2022, 12:09 AM UTC

tlack wrote: post #2

The good: Many people already buy worthless digital content like sticker packs, game character art / items, access to things - buying an NFT could be the same thing, but better (and transferrable). NFTs represent an interesting way for artists to directly connect to their fans. NFTs allow artists to sell new forms of content vs their existing channels (ie a musician selling a music video or access to something else).…

> worthless digital content

digital art isn't worthless. it was just hard to transact before nfts.

Re: Ask HN: What do you think about NFTs?

#12

Post by dropnerd » Tue, Jun 07, 2022, 12:11 AM UTC

alldayeveryday wrote: post #5

I believe there to be many interesting future use cases for NFTs. One such example could be transaction receipts between consumers and businesses. Imagine having an irrefutable proof of your transaction that does not face the risk of being lost like a paper copy. Concert or sporting event tickets could be good use cases for NFTs as well. There are many more ideas people will come up with. I think the tradable digital…

a receipt is a very expensive use of blockspace.

Re: Ask HN: What do you think about NFTs?

#13

Post by dropnerd » Tue, Jun 07, 2022, 12:25 AM UTC

nft-native brands (ex. bored ape yacht club) will be polarizing brands like supreme or rolex or hermes. many people will think it's dumb. the target audience won't care. mainstream brands will adopt nfts as ways to engage super fans.

nft access passes (ex. proof collective) are online-first country clubs and will disrupt traditional ones.

generative art nfts (ex. fidenza) will be more popular than traditional art for decamillionaire millennials and gen-z.

nft fundraising has already eclipsed kickstarter, patreon, and web2 monetization models (youtube, spotify, tiktok, instagram) for creators.

reddit is wrong. nft ticketing is not going to disrupt ticketmaster anytime soon. nft deeds are not going to disrupt realtors anytime soon. entrenched monopolies aren't going to make changes to their business processes to satisfy some angry powerless online communities.

disclosure- i trade nfts. i own none of the listed nfts but have in the past (bayc) and may again in the future.

Re: Ask HN: What do you think about NFTs?

#14

Post by dropnerd » Tue, Jun 07, 2022, 12:33 AM UTC

Minor49er wrote: post #7

It's working to get people on board with the concept of owning digital property which is fundamentally flawed since computers work to copy digital data. It will result in yet another method of enforcing DRM. But this time, it's possible that governments and large platforms will work together to enforce a policy where digital proof is required to upload certain content or digital assets Here are a couple of interestin…

there's no need for drm.

the maximalist stance is that nft collections don't need protection with existing ip laws.

the pragmatic stance is that enforcement through traditional ip laws is enough to keep infringing businesses unprofitable or short-lived.