Nov 23, 2021
yaaaaaanIdk of they’re a fad but they’re definitely a grift
Nov 23, 2021
maxxits proof of ownership really not currency
digital art never had collectors value because its always been easily copied and difficult or impossible to tell which copy is the authentic ”original" but with NFTs the artwork can be attached to a unique number stored on the blockchain
but this scales to basically everything not just digital art which is the current use case. NFTs can be used to represent ownership of physical items or real estate too
the technology will be useful against fraud as well, theres no reason your concert ticket wont eventually be issued as an NFT
eventually everyone will be using them even if they dont know it
ok i see what you mean. with a technology like this wouldn’t that mean we’d technically be able to get tid of social securities numbers and even ID’s ? because right now those serve the same purpose of NFTs right ?
- Nov 23, 2021·1 reply
Husk_The strongest use case for them is to utilize them as a means of replacing paperwork in logistics or finance and prevent fraud and provide a means to verify the authenticity and quality of a product.
For the first example, when selling a house, the process can be expedited through meeting certain conditions through virtual contracts instead of relying on a real estate agent. In theory this could massively speed of the time to sell a house , while cutting down closing costs and real estate fees from the seller.
And as for logistics, the main function of NFTs in the supply chain lies in authenticating products, ensuring their quality and verifying their origin.
NFTs have real use cases that will be staying here forever. I also don’t think the NFT art will be going anywhere since I believe it’s popularity is mainly used for money laundering.
Why bother cleaning your dirty money in 5 different businesses or 50 bank accounts when you can just buy a JPEG worth $3,000,000 with such anonymity that the alphabet boys don’t even bat an eye at the transaction?
I could be pulling the last example out of my ass but I truly think a good percentage of the NFT market is thriving off of cleaning dirty money.
gotcha this makes more sense. i’m with you on that last part as well. a lot of people don’t know how it would transcend digital art (including myself) which is why many think it’s a fad. but what do you think about the post above ? it sort of aligns with your post or will IDs and social security always be a thing ?
Nov 23, 2021·1 replyyaaaaaanIdk of they’re a fad but they’re definitely a grift
Im honestly surprised news hasnt come out of Jay Z buying an NFT yet
- Nov 23, 2021·1 replySkateboard J
Im honestly surprised news hasnt come out of Jay Z buying an NFT yet
- Nov 23, 2021yaaaaaan
https://www.theblockcrypto.com/amp/post/109655/jay-z-puts-a-cryptopunk-nft-as-his-twitter-profile-picture
Nov 23, 2021Scam and fad
Nov 23, 2021Here to stay and 1 of the most unique aspects of the crypto space which I probably need to put more time to research into tbh. Nft's are crazy
Nov 23, 2021Dumb pictures are the complete beginning. It’s not always gonna be bs like it is rn, they’re here to stay
Nov 23, 2021Not a fad but the majority aren't great for investing
Nov 23, 2021Greater Fool Theory
What Is the Greater Fool Theory?
The greater fool theory argues that prices go up because people are able to sell overpriced securities to a "greater fool," whether or not they are overvalued. That is, of course, until there are no greater fools left.
Nov 23, 2021is it worth it to get into them as an artist still? When they first blew up it seemed like they were only useful to digital artists who already had an audience
Nov 23, 2021gotta love accelerating global warming for some expensive jpegs!
- Nov 23, 2021
It must be if y’all make a thread about them everyday
- Nov 24, 2021clueless
gotcha this makes more sense. i’m with you on that last part as well. a lot of people don’t know how it would transcend digital art (including myself) which is why many think it’s a fad. but what do you think about the post above ? it sort of aligns with your post or will IDs and social security always be a thing ?
I agree with the post above. Concert tickets can easily be NFTs. Hell, items off eBay could have a sort of raised printing barcode or QR code with a 3D security ribbon on it to indicate the origin and authenticity of a product for popular shoes and designer clothing.
I also do believe NFTs make digital artwork have value though and are here to stay. As it is technically the initial incarnation of that JPEG and people attach a value to it. They are kinda like digital Pokémon cards. Only a few cards are those Charizard holographic editions and thus one late 90s Holo Charziard in great condition runs over $10,000 easily because they are rare. This is just like expensive NFTs that were randomly generated with rare attributes.
Nov 24, 2021Whatever your thoughts are on NFTs
Look at De-Fi and Game-Fi
There's money to be made there. DYOR
proper 🔩Nov 24, 2021what every nft looks like to me
