Jump to content

Non-Fungible Tokens (NFT)


J4MES OX4D
 Share

Recommended Posts

I heard about this the other day where the first ever Tweet will be auctioned off for over $2m as an NFT which gives someone essentially digital ownership over something. The Tweet will remain on Twitter but it will be 'owned' by the buyer. 

 

I dunno if the world has gone mad with another fad or if something like this could turn into a very lucrative thing especially with people not having true ownership of things attributed to digital services like we see today i.e Steam, Netflix, PSN, Spotify, Social Media etc. Suddenly an original picture of something important published online with its serial may suddenly be worth something even if there is endless copies around. Maybe the first upload of a song could be sold or even a piece of digitally created art.

 

It's just weird but I can see a market and a very big one at that especially if companies or private buyers want a piece of internet history. The fact it's something not tangible is a big problem and I'm not sure how someone will be awarded the ownership i.e will it be a certificate, attached credit to source material etc..

 

Will be interesting to see how this develops.

Link to comment
Share on other sites

It sounds like a horrible copyright situation waiting to happen and millions of website users get hammered if they've used a photo for a meme or anything insignificant.

 

16 hours ago, J4MES OX4D said:

The fact it's something not tangible is a big problem

 

This is what scares me.

Link to comment
Share on other sites

  • 10 months later...

LMAO. Anyone that got burned deserves it. 

qxGb9XqCnYBcKGkZYbUotT-1200-80.jpg
WWW.PCGAMER.COM

The project creators resurfaced today to say they didn't really pull the rug, but the project itself, and the money, are still gone.

 

Link to comment
Share on other sites

meanwhile in this article a ubisoft higher up said that we don't get it and it's for our own good and other bullshit while not giving a single reason why we should accept them

Link to comment
Share on other sites

3 hours ago, Tar-Eruntalion said:

meanwhile in this article a ubisoft higher up said that we don't get it and it's for our own good and other bullshit while not giving a single reason why we should accept them

This was after they got humiliated by only making $400 through their NFT-exclusive store after jpeg's of penises managed to fetch double elsewhere😇

 

Link to comment
Share on other sites

Now the WWF of all things have jumped on it in the most hypocritical and ill-conceived way possible

skynews-rhino-northern-white_5660129.jpg
NEWS.SKY.COM

WWF UK hopes the NFTs will raise funds for its conservation work, but most NFT transactions rely on a cryptocurrency...

 

Link to comment
Share on other sites

Money launders and scammer's delight these things. 

 

It's simple, anyone can mint an NFT.

 

Mint NFT ----> Sell it to yourself through dummy account for £lol -----> other mugs see it and think "ooooh it's worth a few quid" ------> sell it to them for £lol -------> profit. 

banlol.png

Link to comment
Share on other sites

Saw something on Twitter about these the other day, apparently you literally just own the image, but not the blockchain associated with it... meaning the actual owner could then just change the blockchain, meaning the imagine could change, so what are you actually owning?! Lol

Link to comment
Share on other sites

i think you own the nft is like a receipt with a url of the pic you supposedly own

Link to comment
Share on other sites

It just sounds ridiculous to me, I'm with @Diddums on this one. Just sounds like money laundering and con artists wet dream.

 

Even if someone owns an Ethereum block chain of an nft, there is nothing stopping me taking a screenie of it or anyone else for that matter! 

 

It's all silly and shouldn't exist. Cryptocurrency was never intended to be used as an investment in the first place. 

 

Wait till all of it's finished being mined in the future and watch people drop it like unwanted puppies after Christmas to try claw back some sort of the value and return. 

 

Sure make money off it if you can while the going is good, fair play. But don't rely on it, like any "stock" it could crash and burn at any moment or overnight. 

Link to comment
Share on other sites

  • 4 weeks later...

If you couldn't stand this bellend before...

sbYCceLm8MxNwzwgPRrW2L-1200-80.jpg
WWW.PCGAMER.COM

The initial round of 10,000 Founders Access Passes will sell for $50 each.

 

What a return to game development where you essentially scam your fans. It's always the millionaires too because getting $10m a year isn't enough right?

Link to comment
Share on other sites

I mean we are talking about a game that doesn't even exist yet, buying into something that's not there. 

Is silly that's what they open with, no gameplay or screenies? Just consumerism and cash grabbing and the promise of helping to build the game. 

 

Imagine a car manufacturer, we want money upfront but we haven't actually made it yet. What if it's shite? No mention of which studio is taking this on yet. Seems rather dodgy. 

Link to comment
Share on other sites

  • 3 weeks later...
  • 4 weeks later...
10 hours ago, J4MES OX4D said:

Jesus Christ

sFYReDC2iKDhqfnATswpQM-1200-80.jpg
WWW.PCGAMER.COM

Would you pay thousands of dollars for sneakers you can't wear?

 

 

I couldn't afford to buy actual shoes for that price nevermind an NFT of one. 

It's getting beyond silly now James. 😳

Link to comment
Share on other sites

  • 3 weeks later...

Embarrassing

FXcuLS9bpBpfaWYb6CqLF4-970-80.jpg

 

Good news is the NFT market seems to be collapsing spectacularly - millions being lost or getting scammed daily. Can't believe there is people buying digital real estate for worlds that don't even exist either! 

Link to comment
Share on other sites

  • 2 weeks later...

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use and Privacy Policy