Well they are. Hyperfinancialization of replicative-stuff-made-unique-by-algorithmic-randomization-and-blockchain-hash-using-computers.
Keanu Reeves Thinks NFTs Are a Joke
11–20 of 95 posts
Re: Keanu Reeves Thinks NFTs Are a Joke
#12NFTs are technically good, with strong fundamentals, and real world applications, the same way ICOs were. But the way they are used has been absolute shit, and nothing sort of utterly useless.
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Re: Keanu Reeves Thinks NFTs Are a Joke
#13I think NFTs are fine. If you don't like the culture, don't buy in. My gripe is that the majority being sold are tasteless. I don't think NFTs have a bad name because of what they are, they have a bad name because they perfectly encapsulate our materialistic culture and have the corresponding societal malaise that comes with it. So if you want to cast a stone, I would look inward first, because we all play a part in…
They're "fine" to the extent that the vacuum is fine - they are complete non-entities with zero worth beyond what grifters and idiots attribute to them.
I will cast a hail of stones on the concept of copyright gone (even more) batshit insane with absolutely no hesitation.
Re: Keanu Reeves Thinks NFTs Are a Joke
#14NFTs are technically good, with strong fundamentals, and real world applications, the same way ICOs were. But the way they are used has been absolute shit, and nothing sort of utterly useless.
What are these "real world applications", pray tell?
Re: Keanu Reeves Thinks NFTs Are a Joke
#15Nothing against Keanu Reeves, but why is his opinion about NFTs worthwhile news to anyone? The story isn't inconveniencing me in any way, so I should let it go and move with my life, but I can't help but feel that stories of this nature are nothing more than noise; useless, trashy noise that clogs our minds and doesn't add value to anyone other than a magazine editor who needs to cover SOMETHING for engagement's sake, and possibly a PR team for an upcoming movie.
Re: Keanu Reeves Thinks NFTs Are a Joke
#16NFTs are technically good, with strong fundamentals, and real world applications, the same way ICOs were. But the way they are used has been absolute shit, and nothing sort of utterly useless.
I lean in the same direction, I thought ICOs were a very cool way to replace kickstarter: raising funds, staking ownership, if some enterprise was successful you could even sell your share at market value, or cash out early if you're starting to doubt the campaign's ability to ship the product (if you can find someone willing to take the risk at a lower price)
Unfortunately even more than that they lend themselves to raising funds for vaporware, and I don't think there was a single ICO that actually resulted in a real-world product.
NFTs are essentially a reboot of ICO, except instead of a million tokens each representing a small percentage of ownership, you sell a single token representing 100% ownership. I think they could still be used to fund artists (I think of them more as patronage than trading cards), but very few artists are actually raising funds this way, the market is almost entirely trash being wash traded and plots of land in metaverses that don't exist yet.
I think they will suffer the same fate I see in crypto over and over again, any legitimate use case is totally overwhelmed by the number of scams, makes the whole thing wholly unattractive to participate in.
Re: Keanu Reeves Thinks NFTs Are a Joke
#17NFTs are technically good, with strong fundamentals, and real world applications, the same way ICOs were. But the way they are used has been absolute shit, and nothing sort of utterly useless.
What are these "real world applications", pray tell?
NFTs don’t have to be digital assets. They can represent ownership or a share of ownership of something unique, like a piece of real estate. All depends on what can be legally recognized as part of the contract.
Re: Keanu Reeves Thinks NFTs Are a Joke
#18I think NFTs are fine. If you don't like the culture, don't buy in. My gripe is that the majority being sold are tasteless. I don't think NFTs have a bad name because of what they are, they have a bad name because they perfectly encapsulate our materialistic culture and have the corresponding societal malaise that comes with it. So if you want to cast a stone, I would look inward first, because we all play a part in…
They're "fine" to the extent that the vacuum is fine - they are complete non-entities with zero worth beyond what grifters and idiots attribute to them. I will cast a hail of stones on the concept of copyright gone (even more) batshit insane with absolutely no hesitation.
> I will cast a hail of stones on the concept of copyright gone (even more) batshit insane with absolutely no hesitation.
I dislike DRM as much as the next guy, but DRM had pirates, and NFTs have right-clickers. The problem with DRM, particularly on games, is that it restricted access. Most NFTs are still just images and basic media and don't have any impediments to distribution. I think someone getting sued because they used someone's NFT as a twitter DP will probably happen. What comes of that will be interesting to say the least.
edit: oxymoron correction
Re: Keanu Reeves Thinks NFTs Are a Joke
#19Earlier quoted context omitted.
They're "fine" to the extent that the vacuum is fine - they are complete non-entities with zero worth beyond what grifters and idiots attribute to them. I will cast a hail of stones on the concept of copyright gone (even more) batshit insane with absolutely no hesitation.
> I will cast a hail of stones on the concept of copyright gone (even more) batshit insane with absolutely no hesitation. I dislike DRM as much as the next guy, but DRM had pirates, and NFTs have right-clickers. The problem with DRM, particularly on games, is that it restricted access. Most NFTs are still just images and basic media and don't have any impediments to distribution. I think someone getting sued because…
Do most NFTs even actually claim to represent a legally actionable copyright transfer or license, or is that all implied? I was under the impression that it was the latter.
Re: Keanu Reeves Thinks NFTs Are a Joke
#20Earlier quoted context omitted.
> I will cast a hail of stones on the concept of copyright gone (even more) batshit insane with absolutely no hesitation. I dislike DRM as much as the next guy, but DRM had pirates, and NFTs have right-clickers. The problem with DRM, particularly on games, is that it restricted access. Most NFTs are still just images and basic media and don't have any impediments to distribution. I think someone getting sued because…
Do most NFTs even actually claim to represent a legally actionable copyright transfer or license, or is that all implied? I was under the impression that it was the latter.
My impression is that it's just provable ownership. Although they could probably encode copyright semantics, I suspect it's largely all implied.