61–70 of 264 posts
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.
Which will require the authority to recognize it. Your NFT of house is worth nothing unless court/police recognize it to be so.
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
> So if I buy an expensive NFT, and the domain goes down, the NFT is now worthless? Well, that’s a question and a half. If its intrinsic value dropped to zero, would that be a change in value?
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…
I wrote this a little while back, and it might help you. https://interjectedfuture.com/nfts-unbundle-ownership-from-e...
If NFTs as deed to art isn't convincing for you, check out ENS. https://ens.domains/ It's a name registrar that's a smart contract. Each ENS domain name is an NFT.
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…
Hype. Hoping it will become even more popular to sell it for even higher.
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…
My question would then be.... why the lowres pixelated NFTs if they are being hosted somewhere else?
So how exactly is the "gas money" calculated? I was led to believe it was expensive because putting all that data into the blockchain costed a significant amount. Asking because, wanting to verify whether NFTs were really a scam or scheme instead of just following heated Twitter arguments, I looked into uploading my own NFT. Gas money for a single image was $250--estimated earnings for an NFT are in the low dollars f…
The gas fees are a constant, so you pay a certain amount of ETH to mint your NFT. You don't upload any image data but solely the address (so a couple of bytes) of the owner.
The reason that this costs so much is the exponential increase in ETH prices in the recent years and the network congestions (gas price depends on the workload of the ETH network). What used to be a couple of cents or so is now easily $70, depending on the ETH price and network congestion.
I whipped up a calculator some time ago: https://nuftu.com/pricing
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…
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…
Money laundering.
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…
> Owning an NFT generally doesn't grant you copyrights over the underlying work of art. Owning a baseball card doesn't mean the athlete now works for you. They can both still have value as collectible items, if that's something that interests you.