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mystes
May 31, 2006

It's too bad that Bernie Madoff passed away, because I think he really should have gotten into this NFT stuff.

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mystes
May 31, 2006

Samuel Clemens posted:

Is the concept of an NFT roughly equivalent to e.g. buying a game on Steam? You don't own the product so much as a means of accessing it, and you're trusting the vendor to keep it available? Obviously no one pays 10k for a game and Valve is probably a bit more reputable than your average internet artist, but I'm wondering if the basic idea is the same.
No, you aren't entering any sort of agreement for someone to provide a license to use content for some purpose or to make content available by buying an NFT, and NFTs would not help with that in any way.

mystes
May 31, 2006

CrypticFox posted:

But if the NFT still does not confer ownership, what does this accomplish?
Nothing

If you really want a url to content that can't change, ipfs or BitTorrent magnet links have already done that better for a million years.

mystes
May 31, 2006

VideoGameVet posted:

It prevents the art from being ‘lost’ if the host goes away (assuming other hosts and local copies) and it enables verification to insure the art is what is was when the NFT was created. I believe they are the only ones doing this.
This is pointless because if you don't care about distribution of the art you can already achieve the same thing just by storing a hash, and if you do care about distribution of the art ipfs already does this better for free.

https://ipfs.io/ipfs/QmbxW7tVLWMZK5oHoq9FTdxBsmJmbv3MnMtqC8FnMJWPa2

This link has all the magic properties you are saying that NFTs have, for free, today, but I guess feel free to give me a million dollars or something if it makes it more exciting for you.

Companies are just trying to shoehorn NFTs into things now to seem cool like they were trying to shoehorn the blockchain into everything a few years ago, but it's completely pointless because it's never the best way to achieve the actual technical goals they're allegedly trying to achieve.

mystes fucked around with this message at 21:43 on May 11, 2021

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