The whole NFT/crypto currency thing is so incredibly frustrating. Like, being able to verify that a given file is unique could be very useful. Instead, we simply used the technology for scamming people.
I don’t think NFTs can do that either. Collections are copied to another contract address all the time. There isn’t a way to verify if there isn’t another copy of an NFT on the blockchain.
I didn’t know this and it’s absolutely hilarious. Literally totally undermines the use of Blockchain to begin with.
NFTs if anything are basically CryptoCurrency-based DRMs & we should always oppose DRMs
Copying the info on another contract doesn’t mean it’s fungible, to verify ownership you would need the NFT and to check that it’s associated to the right contract.
Let’s say digital game ownership was confirmed via NFT, the launcher wouldn’t recognize the “same” NFT if it wasn’t linked to the right contract.
But you would need a centralized authority to say which one is the “right contract”. If a centralized authority is necessary in this case, then there is less benefit of using NFTs. It’s no longer a decentralized.
There isn’t a way to verify if there isn’t another copy of an NFT on the blockchain.
Incorrect. An NFT is tied to a particular token number at a particular address.
The URI the NFT points to may not be unique but NFT is unique.
The NFT is only unique within the contract address. The whole contract can be trivially copied to another contract address and the whole collection can be cloned. It’s why opensea has checkmarks for “verified” collections. There are a unofficial BoredApe collections which are copies of the original one.
It’s crazy that people could see NFTs were a scam but can’t see the same concept in virtual coins.
I’m not defending other cryptocoins or anything, they might be a ponzy scheme or some other form. But in the end they at least only pretended to be that, a valuta. Which they are, even though they aren’t really used much like that. NFT’s on the otherhand promised things that were always just pure technical bullshit. And you had to be a complete idiot not to see it. So call it a double scam.
A large majority of “real” money is digital, like 80% non-m1 m2. The only real difference between crypto and USD is that the crypto is a public multiple ledger system that allows you to be your own bank.
I’ve heard the sales pitch, it’s a ponzi scheme with receipts. An open pyramid, so to speak. At best a volatile store of wealth.
What do you mean with being your own bank? Can you receive deposits from customers? Are you allowed to lend a portion of the deposists onwards for business loans/mortgages? If not, you are not your “own bank”.
I think you mean that you can use it as a deposit for money, similar to, say, an old sock.
It’s crazy that people see crypto as a scam but can’t see the same concept in fiat currencies.
Governments don’t accept cryptocurrencies for taxes. They’re not real currencies.
I think a big part of the problem with NFT is that they are so abstract people don’t understand what they can and cannot do. Effectively, with NFT, you have people that hold a copy of a Spiderman comic in hand and believe they own all forms of spiderman.
Essentially, when you boil it down, you can turn this into “it’s provable that individual X has possession of NFT identifier x,y,z”. It’s kind of like how you can have the deed to a piece of property in your desk, but that doesn’t prevent 15 people from squatting on it.
It’s so abstract you can use it to fleece people. Even after 2 years of hype, people STILL do not understand them properly.
Essentially, when you boil it down, you can turn this into “it’s provable that individual X has possession of NFT identifier x,y,z”. It’s kind of like how you can have the deed to a piece of property in your desk, but that doesn’t prevent 15 people from squatting on it.
It isn’t even that. It’s is identifying which drawer in your desk the deed is placed, but there is no guarantee that the drawer contains the deed.
But it’s totally legit brah, it’s just like trading cards but on a computer bro, you can make jay pegs totally unique bro, nobody else in the world can have the same image as you brah, it proves you’re the only owner of it bro, trust me bro it’s super secure and technological bruh
