"CryptoPunk 5822 has been purchased for a record 8,000 ETH ($23.7M)"
The seller held it for 4 years, 7 months, and 3 days.
Paid: 0.08 ETH ($19) on 07/09/17
Sold: 8,000 ETH ($23,431,981) on 02/12/22
Can someone explain the point of NFTs?
- Thread starter winb83
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This. I’ve actually been shocked by the amount of GAMERS that are actively against this while having spent half their life buying skins.
I cannot believe gamers don't understand the concept of NFTs. You all have been buying and collecting digital assets for over a decade now, how don't you "get it"? It's DLC basically.
The technology could actually be really useful and doesn't have to be limited to just digital content.
Imagine if there was some type of database where you could go to verify the authenticity of shoes you're looking to buy. You could attach NFTs to physical items to make the process of verifying authenticity easier, like a digital serial number.
This could have been avoided with a system like that.
Fam, is this site a scam to buy this Ironman figure?? *update: look at this Hustle man shyt
As for digital uses, it could be the same thing we have now but with the added benefit of being able to sell your digital content. It's like if epic allowed you to sell or trade rare fortnite character skins that were only made available once for a short time.
Or hell, maybe even attach NFTs to the game itself and allow people to sell and trade their digital games, that would kill gamestop but it would be nice.
There are some interesting ways they could implement NFTs but gamers are so outraged at tech they dont even understand.
Publishers don't really want you reselling digital games. If they allow this they will in turn sell less original copies as digital copies recirculate. Even if they got a kickback on the NFT resold copy that's going to be less than they get for selling a new digital copy.
Ya Sinning Mane
Superstar
When I heard rappers like baby and gunna buying them
i knew it was a scam to take people money
300000 for a bored ape wit a hat on
It better be in everything I post on the internet for that much
my nft better be in my sig on the coli hell
i knew it was a scam to take people money
300000 for a bored ape wit a hat on
It better be in everything I post on the internet for that much
my nft better be in my sig on the coli hell
This is one of the arguments I keep hearing but I haven’t seen anyone cite any evidence that this is happening or is going to happen.
I keep hearing about how this would only serve to create artificial scarcity as if artificial scarcity hasn’t existed for ages now.
You think Nintendo doesn’t create artificial scarcity when they put out Mario anniversary edition and tell you it’s a limited run so you better go out and buy it now before it disappears? You don’t think that Pokémon cards being printed aren’t a form of artificial scarcity? Is there a short of ink and paper?
NFTs are not a scam just because you don’t see the point in buying a pixelated Ape. That just means it’s not for you and in that case I agree with you. I personally have no interested in owning one but if they minted original digital graphics of metal gear solid artwork I would absolutely be interested in it. The point a lot of people make about NFTs being a scam is the same point that could be made of ALL art.
Ya’ll cant keep telling me the sky is falling without having solid evidence to support the outrage. I’ve said before, I’m open to being educated on the subject but I haven’t seen anyone make a valid point against this yet.
Gamers specifically have wished for a day they could resell their digital license. They have also complained that a digital license should not cost the same as a physical disc. NFT would absolutely help correct those specific issues.
This is a great video explaining why NFTs are a scam including the fact that backed into them is virtually no real security features.
I watched the whole thing over several days. I don't imagine many people here will because it's excessively long and it's just easier to say NFTs are a great idea and talk about the theory of them rather than how they actually exist. I timestamped a few of the points made below.
NFTs have no way to validate the authenticity of what's being sold and if if whoever is selling it has the rights to the item in question. People mint fake NFTs of things they don't own the rights to all the time and sell them with the rights holders finding out later it was done. Also NFTs are dependent on the marketplace to determine what was sold or not sold. All the NFT does itself is allow for transfer of ownership.
Someone sent Waka Flocka an fake NFT because they found his wallet address and the smart contract of that NFT executed when he attempted to delete it draining his wallet. The smart contract contained malicious code that simply do to the nature of the smart contract executes whenever someone interacts with the NFT in any way.
NFTs are the wild west. They are unregulated and uncontrolled by design and because of that they are ripe with fraud and other problems. Once you start government regulation and control of them well they become the problem that NFTs were created to solve. Big business and banks will insert themselves into the equation and back to square 1. Unregulated they are a nightmare.
"Consider that any token that can be used to grant access can also be used to revoke it"
"Imagine I'm a decentralized finance organization giving out giving out mortgages in crypto currency and a scour your transaction history for donations to the NAACP as part of my risk assessment"
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NFTs are the future. OP is an idiot
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You know what else can make you a millionaire? The Lottery. Betting on sports games.
NFTs are the new MLM. Primerica makes millionaires too. You gonna sign up?
You say publishers would never allow trading of digital content but Microsoft was literally trying to do just that with the X1, Gamers shut that down.
I didn't say never allow I said don't want. We're also talking about open ownership vs a closed marketplace ran by a console maker and publishers themselves. Lastly any marketplace right now could enable you to sell back your games even without NFTs. Why haven't they?
How can you say they didn't want to when one of the biggest players in the game was literally pushing for it?
I've already explained how NFTs could be used to benefit the industry, @Fatboi1 posted an article where a physical house was sold as an NFT and explained how it was done. You keep thinking NFTs are just those stupid ass digital monkey pictures being sold.
Gamers should be telling publishers HOW they want NFTs implemented in games, instead everyone is clutching pearls acting like ubisoft is trying to sell them some ugly ass Master P art work.
I think the fears are warranted.
We know publishers are down for fukking people over NFTs just give them more amo for the fukkery.
And a play for profit NFT game will inherently have a broken Ponzi scheme economy.
The Biggest NFT Video Game's Economy Is Collapsing Because NFT Games Don't Work
shyt sounds like a dystopian future where people sit and play crappy mindless games for 30 hours a day just for pennies
We know publishers are down for fukking people over NFTs just give them more amo for the fukkery.
And a play for profit NFT game will inherently have a broken Ponzi scheme economy.
The Biggest NFT Video Game's Economy Is Collapsing Because NFT Games Don't Work
shyt sounds like a dystopian future where people sit and play crappy mindless games for 30 hours a day just for pennies
