These NFT things

[Tramps_mate]

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Id buy a ranch for $2!!!

 

[Big Neville Southall]

There's one use that could be applied on the likes of Instagram etc, but I'll use GOT as an example.

When you make a new thread, you own that thread initially. If someone likes that thread they could buy the rights to it, and then either keep or sell the rights to someone else. So if that thread is popular it'll get more views.

Advertisers sponsor the threads with the most views, so the owner of that thread gets the money.

 

[nosejam]

So, why would a videogame company implement anything like this? I still have no idea what it's even about even with this explanation(which is really quality btw).

It would take a bit of persuading of a lot of stakeholders but in theory it could reignite the reselling market. If you are assigned an NFT to your copy of a digitally purchased game you could resell it and the NFT gets transferred to the next person and the original producer gets a percentage everytime it is sold.

Plus skins and other things like that could be resold too. I don't know whether big publishers would be on board to begin with, why have a small percentage of a resale if you could get them to pay full price? The console makers especially love digital sales due to the lack of resale.

This could apply to digital books or music too, if the marketplace is designed in a way that when ownership is transferred the creators get a cut of the money it could be attractive to them.

 

[devogue]

I don't think anyone really understands NFTs lol even the people who claim to be experts.

 

[longers]

 

[ClausThomsen]

You 'own' a unique token that is loosely associated with a digital file. This is all stored on a block chain so ownership rights, like BitCoin, can't be manipulated*

The idea is that if you make a piece of digital artwork, such as image, video or piece of code, the origin rights (copyright) are maintained by one person.

A .jpg for example can be copied countless times from the master, but theoretically only one person will only the NFT of the original hence having ownership.

The idea is that it'll be prove those rights (e.g. as evidence for revenue or over disputes of copyright) as the person who made it will have that NFT.

The only issue is that while this all sounds wonderful and could be useful for selling digital rights for anything from tickets etc., it's mostly used illegally.

Moving money digitally around the world is now much, much easier than ever if you know how, but it's not exactly useful for your average buck dealer etc.

*apparently.

Oh I get that and I’m not saying I agree with it. The point however is that he may be useful when discussing rights of use, copyright and whatnot.

NFT ownership doesn't imply copyright. The copyright is still held by the creator / owner unless they agree to sell it with the NFT - which hardly anyone does.

 

[BNJ1878]

There's one use that could be applied on the likes of Instagram etc, but I'll use GOT as an example.

When you make a new thread, you own that thread initially. If someone likes that thread they could buy the rights to it, and then either keep or sell the rights to someone else. So if that thread is popular it'll get more views.

Advertisers sponsor the threads with the most views, so the owner of that thread gets the money.

Right, but a thread is an interactive thing. People visit and contribute.

People going to look at an image online can probably find that image in multiple locations. (you can find recently released movies all over the place, a piece of questionable art won't be too tricky)

 

[nosejam]

 

[Big Neville Southall]

Right, but a thread is an interactive thing. People visit and contribute.

People going to look at an image online can probably find that image in multiple locations. (you can find recently released movies all over the place, a piece of questionable art won't be too tricky)

Maybe there's an image attached to the thread. Or it's a different use of NFTs, or most likely I'm getting confused with a different type of token.

 

[BNJ1878]

Maybe there's an image attached to the thread. Or it's a different use of NFTs, or most likely I'm getting confused with a different type of token.

And that's the problem.

People do get confused. Even so called experts don't properly understand it.

If they did, they'd be able to explain it properly to a 5 year old.

 

[treer]

The person who paid 450k for a place next to Snoop, maybe not so daft. Apparently he has built a house on the land.

Snoop is reported to be holding concerts nearby, so surely the person can let the house for a week while the concert is on.
Should get a canny rent for the week, everytime Snoop has a concert.

 

[TheBigIguana]

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But it's proof of authenticity of nothing. Buying authentic Gucci also gives you the article of clothing.

 

[Lee Smith]

This fella sums them up perfectly. I knew only a little about what they actually entailed, and had a feeling they were massively scammy, but after watching this, I’ve realised they’re even more hilariously nonsensical

 

[Wizard]

Student accidentally becomes a millionaire after turning selfies into NFT as a joke — The Independent

‘I was thinking it might be funny if one of the collectors collected my face,’ 22-year-old says

apple.news

 

[BullensRoad]

If you want some more evidence it's a sham / money laundering - it's only influencers or high profile sports people who are saying the same old script such as"I bought this weird monkey and it's not worth 200k+ if you haven't got one, get on board!"

It's a ponzi scheme - try and sell the idea to other people.