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Digital collectibles on Instagram is winding down

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Re: Digital collectibles on Instagram is winding down

#71

Post by hurril »

ImaCake wrote: post #43
inconceivable wrote: post #22

Earlier quoted context omitted.

just wait until they start really attacking AI. they'll roll out the same playbook. 1. dangerous new technology 2. that uses far too much energy (more than the entire country of X!) 3. do we really know how it works? 4. controlled by a shadowy cabal of super-coders 5. followed by a litany of anecdotal stories about victims of AI 6. and increasingly frequent and increasingly negative coverage of those getting rich off…

The playbook against NFTs is that they did nothing useful. That seems to still be the case. ChatGPT is useful, some of us are just not sure how useful it is yet.

You're making an analogy with something (ChatGPT) that isn't analogous.

ChatGPT kan be useful or useless and NFT:s would have the same value or qualities otherwise.

NFT:s can be useful or useless and ChatGPT would have the same value or qualities otherwise.

The one playbook that exists here is defending NFT:s in lieu of it defending itself by being actually useful. (Which is not me saying that they are not nor that they couldn't be. Just that shouting that everyone is dumb and that your product is in fact awesome isn't a good look, is it?)

Re: Digital collectibles on Instagram is winding down

#72

Post by inconceivable »

cableshaft wrote: post #51
inconceivable wrote: post #22

Earlier quoted context omitted.

just wait until they start really attacking AI. they'll roll out the same playbook. 1. dangerous new technology 2. that uses far too much energy (more than the entire country of X!) 3. do we really know how it works? 4. controlled by a shadowy cabal of super-coders 5. followed by a litany of anecdotal stories about victims of AI 6. and increasingly frequent and increasingly negative coverage of those getting rich off…

You're getting downvoted but you shouldn't be. There's already discussion about ChatGPT's energy usage, and once this starts scaling more, there's going to be more and more people concerned. Hell, I'm already a bit concerned with its energy usage, and I'm already struggling being a fan of crypto while also being concerned for the environment (didn't use to have to be, crypto didn't use a ton of energy 8+ years ago).…

i'm getting downvoted because we're in an NFT thread and people think i'm pro-NFT (lmao. lol. etc.) instead of anti-dipshit-FUDster "tech journalists".

Re: Digital collectibles on Instagram is winding down

#74

Post by dgellow »

TylerE wrote: post #14
dgellow wrote: post #10

So, you could collect NFTs of instagram posts? What a weird concept. Reddit avatars make more sense IMHO, they work as a form of status symbol. They are displayed on all your posts and comments, so you can show off your fancy avatar everywhere. I cannot see why anyone would care about a collection of posts.

No, this is avartars/PFP

Are you sure? Everything I see in the announcement article and documentation is about collectible posts.

https://about.instagram.com/blog/announcements/instagram-dig...

Re: Digital collectibles on Instagram is winding down

#75

Post by bombcar »

cableshaft wrote: post #59
winphone1974 wrote: post #50

Earlier quoted context omitted.

I don't understand how this can be a valid comparison, unless you bought games planning to never play them, just check them off against your list? That seems like a very minor use case. This would be like people saying they "collect" Kindle books or itunes music. Collecting is based on the idea of scarcity, either real or contrived, and digital plus not even owning the object makes that both impossible to be true and…

It's not a minor use case. According to Forbes[1], 37% of all games purchased on Steam never get played. Collecting definitely doesn't have to be based on scarcity. Board games aren't scarce (some are long out of print and rare, yes, but most aren't) yet I know people with vast collections (I myself have about 500 board games, and only maybe 3 or 4 are rare enough to be worth any significant money beyond its retail p…

Many people buy games, books, even music and movies with the “I’m interested and will get to it someday”.

It’s more rare for someone to explicitly buy something with the firm intention never to play it (and usually that is a second copy they want to keep pristine).

Most of my unplayed steam games are that - oh, $5? I’ve heard of that and want to play it someday, I’ll grab it now.

Re: Digital collectibles on Instagram is winding down

#76

Post by TylerE »

dgellow wrote: post #74
TylerE wrote: post #14

Earlier quoted context omitted.

No, this is avartars/PFP

Are you sure? Everything I see in the announcement article and documentation is about collectible posts. https://about.instagram.com/blog/announcements/instagram-dig...

"Once connected, creators and collectors will have the ability to choose which NFTs from their wallet they would like to share on Instagram."

Re: Digital collectibles on Instagram is winding down

#77

Post by cableshaft »

bombcar wrote: post #75
cableshaft wrote: post #59

Earlier quoted context omitted.

It's not a minor use case. According to Forbes[1], 37% of all games purchased on Steam never get played. Collecting definitely doesn't have to be based on scarcity. Board games aren't scarce (some are long out of print and rare, yes, but most aren't) yet I know people with vast collections (I myself have about 500 board games, and only maybe 3 or 4 are rare enough to be worth any significant money beyond its retail p…

Many people buy games, books, even music and movies with the “I’m interested and will get to it someday”. It’s more rare for someone to explicitly buy something with the firm intention never to play it (and usually that is a second copy they want to keep pristine). Most of my unplayed steam games are that - oh, $5? I’ve heard of that and want to play it someday, I’ll grab it now.

I mean, that’s my justification too, but let’s be honest, I won’t ever have the time or energy to properly play half of the things I buy, and I’d save a lot of money if I took that into account before I bought them.

Re: Digital collectibles on Instagram is winding down

#78

Post by kordlessagain »

theK wrote: post #25
kordlessagain wrote: post #8

Earlier quoted context omitted.

Crypto, and now AI, are likely the great differentiators between those who seek get rich schemes and those who lever up humanity through innovation, hard work and grit. If I had the ability to migrate to another planet, the last thing I’d take with me would be an NFT image of some stupid primate.

I think I know what you are trying to say, but there night be an issue with your metaphor. The whole point of an NFT is that you don't have to take it with you as you owning it is chain state.

If I’m 50 light years from here, the colored coin on a backwaters planet has zero meaning.

It’s a continued fallacy that a physical thing may be secured by a crypto transaction (entry to a DAG).

Now, immediate identity and exchange of contract value, such as on Lightning, may be useful for compute resources, but only in the moment of inference.

Crypto was built to service AI, and more specifically, GAI. This is crypto’s “killer” use case. Everything else done with it is a sideshow.

Re: Digital collectibles on Instagram is winding down

#79

Post by kordlessagain »

KyeRussell wrote: post #19
kordlessagain wrote: post #8

Earlier quoted context omitted.

Crypto, and now AI, are likely the great differentiators between those who seek get rich schemes and those who lever up humanity through innovation, hard work and grit. If I had the ability to migrate to another planet, the last thing I’d take with me would be an NFT image of some stupid primate.

Are we still doing “AI is the new crypto” here? I’d like to think that we’ve moved past this by now.

Crypto is useful. A very long time ago there was a conversation about killer use cases. People on the ethereum side of the room thought programmable chains were it. People on the Bitcoin side said it was micropayments and script based post dating.

I said that it was likely paying for compute resources that would be a killer use case. Implementing 402s would be that manifest: https://github.com/lightninglabs/aperture

Now we’re moving deep into the AI markets, this will be a thing, combining both.

That said, con artists will still try to hustle others.

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