NFTs are a force for good!?!

[Agente42]

SvennoJ said:

gergroy said:

What are nfts?

Short answer: A ponzi scheme

NFT stands for non fungible token

It's just a transaction stored in blockChain, a secure file floating around the net, maintained and updated by Bitcoin mining.
Picture it as a receipt stored on the web.
You can trade those receipts with others as you see fit by requesting a transaction, which will then be appended to blockChain by bitcoin miners.

The NFT or receipt states you are the owner of some digital content, most popular atm, ugly pictures
https://www.blockchain.com/nfts
You don't own the copyright though, actually you own nothing, just the receipt that you paid for what the NFT links to. The item itself is not stored in blockChain, it's just a link and transaction record.

What makes it great for publishers is, they can request 10% of any resale of those NFTs
https://www.eurogamer.net/articles/2022-01-15-konami-earns-over-gbp118-000-from-that-castlevania-nft-auction
And investors use it to gamble on its popularity to make a quick buck.

Atari wants to combine it with loot boxes
https://www.eurogamer.net/articles/2022-01-27-atari-releasing-giftable-nfts-to-celebrate-50th-anniversary

Oh and then there's the environmental impact from bitcoin mining where 1 transaction is equal to 1.6 million VISA transactions in carbon footprint.

The best storie ais the Duna NFT, people bought and think to own the copyright, funny

We won the auction for €2.66M. Now our mission is to:

1. Make the book public (to the extent permitted by law)

2. Produce an original animated limited series inspired by the book and sell it to a streaming service

3. Support derivative projects from the community pic.twitter.com/g4QnF6YZBp

— Spice DAO (?,?) (@TheSpiceDAO) January 15, 2022