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NFT projects are just MLMs for tech elites

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Re: NFT projects are just MLMs for tech elites

#541

Post by tantalor »

javier123454321 wrote: post #531

The way I see NFTs is this: It is an open API to deal with ownership rights. Every behavior that you can program into ownership, is now available. The profile pictures are stupid, yes, but the idea that property is moved to an open database which anyone can program a behavior is exciting. Aston martin can now have a lounge in France where only Aston Martin owners can join, even if your car is in New York. Even if the…

> only Aston Martin owners can join

How would that even work? Supposing I bought the car and received the token, what's to stop me from selling the token and keeping the car?

Re: NFT projects are just MLMs for tech elites

#542

Post by jrochkind1 »

BiteCode_dev wrote: post #446

NFT always felt ridiculous to me, but I though I understood the mechanism: "it's like baseball cards but in the blockchain". This week I learned it's not. NFT are Non Fungible Tokens, which means tokens that can't be divided, unlike crypto currencies like Bitcoin that can be divided in Satoshis. So you exchange the totality of it, or not. Basically it's a unique number in the blockchain you change ownership by applyi…

Did the early days of the internet have as much scams and money-laundering in the mix? Not in my neck of the early days of the internet woods.

Re: NFT projects are just MLMs for tech elites

#543

Post by bserge »

jameshart wrote: post #481
BiteCode_dev wrote: post #446

NFT always felt ridiculous to me, but I though I understood the mechanism: "it's like baseball cards but in the blockchain". This week I learned it's not. NFT are Non Fungible Tokens, which means tokens that can't be divided, unlike crypto currencies like Bitcoin that can be divided in Satoshis. So you exchange the totality of it, or not. Basically it's a unique number in the blockchain you change ownership by applyi…

So I do wonder whether the NFT divide (between people who get it and people who don’t) might be a generational split, related to a larger societal shift away from ‘owning things’. We’ve definitely passed ‘peak thing ownership’. For those of us old enough to have grown up with the idea of ‘buying a book’, ‘buying a toy’, ‘buying a CD’ or ‘buying a magazine’ we have a particular mental framework for ‘owning’ stuff. But…

I do, in fact, expect to be able to use my paid for Android app at any time in the future.

I'm not counting on updates and new features, I just want the same version I bought to work on the same version of Android it works on right now.

Obviously, that's all in my stubborn old school brain, but it doesn't stop me from hoarding .APK files and Android images.

I had a lot of great very old software on some CDs that I regularly reburned/copied until I lost them over a decade ago and I'm still pissed about that :D

Re: NFT projects are just MLMs for tech elites

#544

Post by blurbleblurble »

There's a missing perspective in a lot of these comments: some people like to support artists and aren't that naive when it comes to "buying NFTs". They see stuff they like and want to support the creator. That's also an aspect of this. Some fraction of the art NFT space is people literally investing directly in artists with the possibility of getting a return on investment, but not necessarily an expectation of that.

Re: NFT projects are just MLMs for tech elites

#545

Post by [deleted] »

BrianOnHN wrote: post #516
miracle2k wrote: post #465

Earlier quoted context omitted.

The majority of all NFTs are stored in IPFS; source: I run a platform indexing NFT media files. Also, the art is the token. Data storage is a orthogonal problem entirely.

> the art is the token The art is people believing they own more than that.

[deleted]

Re: NFT projects are just MLMs for tech elites

#546

Post by Alex3917 »

BiteCode_dev wrote: post #522
Alex3917 wrote: post #493

Earlier quoted context omitted.

> The platform disappears, or bans you, or changes policy, or is blocked, or whatever, and your NFT is back to being a bare-bone blockchain contract number and a token id. So what? You can obviously right click to save the JPEG, so if the platform goes down it doesn't really matter. What you're buying is ownership of the NFT of the JPEG, not the JPEG. Even if the platform goes down, you'll still be able to see the na…

No because the nothing link the contract to that jpeg anymore.

You can store a hash in the contract if you really want them to be linked.

Re: NFT projects are just MLMs for tech elites

#547

Post by bserge »

BiteCode_dev wrote: post #446

NFT always felt ridiculous to me, but I though I understood the mechanism: "it's like baseball cards but in the blockchain". This week I learned it's not. NFT are Non Fungible Tokens, which means tokens that can't be divided, unlike crypto currencies like Bitcoin that can be divided in Satoshis. So you exchange the totality of it, or not. Basically it's a unique number in the blockchain you change ownership by applyi…

Isn't it more like if you see an image you own anywhere, you can claim ownership based on your NFT?

Could be hilarious if you ask someone to remove it from their site. You own 1% of it? Which pixels do you want recolored? :D

Re: NFT projects are just MLMs for tech elites

#548

Post by stanleydrew »

javier123454321 wrote: post #531

The way I see NFTs is this: It is an open API to deal with ownership rights. Every behavior that you can program into ownership, is now available. The profile pictures are stupid, yes, but the idea that property is moved to an open database which anyone can program a behavior is exciting. Aston martin can now have a lounge in France where only Aston Martin owners can join, even if your car is in New York. Even if the…

What's the point of the database being open? That doesn't seem all that exciting and there are plenty of examples of other open databases.

> property is moved to an open database

But it's not really in most cases. Only the claim of ownership is in the database.

And the claim part is important.

> Aston martin can now have a lounge in France where only Aston Martin owners can join

What if I sell my car and don't transfer my NFT showing ownership of the car? Who will enforce the requirement that I must transfer the NFT when I sell my car?

Re: NFT projects are just MLMs for tech elites

#549

Post by rednerrus »

jrochkind1 wrote: post #542
BiteCode_dev wrote: post #446

NFT always felt ridiculous to me, but I though I understood the mechanism: "it's like baseball cards but in the blockchain". This week I learned it's not. NFT are Non Fungible Tokens, which means tokens that can't be divided, unlike crypto currencies like Bitcoin that can be divided in Satoshis. So you exchange the totality of it, or not. Basically it's a unique number in the blockchain you change ownership by applyi…

Did the early days of the internet have as much scams and money-laundering in the mix? Not in my neck of the early days of the internet woods.

There were a lot less idiots on the internet in the early days of the internet. It was a function of the difficulty of getting on the internet.

Re: NFT projects are just MLMs for tech elites

#550

Post by tshaddox »

scoopertrooper wrote: post #328
tshaddox wrote: post #290

Earlier quoted context omitted.

Your argument is about digital art, and has little to do with NFTs. No one is claiming that the owner of an NFT has different access to the piece of digital art itself, of course.

Then, what is the value of the NFT? You own the rights to a hyperlink?

No, you own the NFT, which people value because the artist issued it.
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