41–50 of 264 posts
I'm very surprised that those (the JSON and the picture) are not stored in a decentralised way e.g. IPFS or Swarm. So if I buy an expensive NFT, and the domain goes down, the NFT is now worthless? We should be on the lookout for any of these domains expiring, then we will buy them and upload Rick Astley GIFs
Why misconception? NFT = proof of ownership
The only real future for NFT's is a coupling with the physical world. Like buying physical art. Or proofing ownership of an asset like houses.
Or an uncensorable domain name service which has both utility and rarity and cannot be downloaded and is stored on the blockchain.
The only real future for NFT's is a coupling with the physical world. Like buying physical art. Or proofing ownership of an asset like houses.
Or an uncensorable domain name service which has both utility and rarity and cannot be downloaded and is stored on the blockchain.
I can't help thinking this criteria makes the DNS service a bit less useful.
I hate to admit it but I’m still struggling to understand why people would pay so much for NFTs. I feel like I fully understand what they are and why most people want me to believe it has value but I still don’t agree. I’m waiting for my mind to change but it hasn’t happened yet. It’s frustrating because so many people I respect are leaving their high paying jobs to work in web3 startups around NFTs and I feel dumb f…
Think of a booth at Comic Con, where an artist hands out signed copies of their comic books. The comic book itself is nothing special, but the signature is. But there is a problem: if you ever want to sell the signed comic book, how do you prove it's a real signature? NFTs solve that problem.
Discussions about proposals & implementations are happening here:
This means that NFTs still don't denote much without a centralized authority. Doesn't that defeat the point? (That might not make them worthless, since value is socially constructed, but it makes the claims of decentralization seem less impressive.)
I'd expect at least a hash of the image to be stored on the blockhain..
NFT is low tech scam. I'm surprised so much money were attracted. Must be very good marketing campaign.
I hate to admit it but I’m still struggling to understand why people would pay so much for NFTs. I feel like I fully understand what they are and why most people want me to believe it has value but I still don’t agree. I’m waiting for my mind to change but it hasn’t happened yet. It’s frustrating because so many people I respect are leaving their high paying jobs to work in web3 startups around NFTs and I feel dumb f…
The most plausible conspiracy theories I've heard is that the big sales ($1 million plus) are wash trades, ("sell" an object to a confederate for 500 ETH, then they transfer the money right back via another route) and some classic money laundering Now of course there's a mountain of clueless suckers kicking off a regular tulip mania-style bubble. I wonder how many more weeks it will last.
[1] https://news.artnet.com/art-world/crypto-punk-500-million-sa...