Blrd

[Banks]

Would you guys say that NFTS are a passing fad at this point? I feel like it is the case, considering that I don't see this becoming as popular as cryptocurrency. Yeah it's kinda blown up recently, but I just can't see NFTs working for long. Once the government gets their hands in it, I bet things will change fast.

I mean hell, even people are making games with NFTs now, so it's going to result in crackdowns because we know kids can easily access all these games, so they're going to find a way to get into these NFTs.

Anyway, do you think NFTs will stick around? Or is it a passing fad?

 

[Blackgravity]

I don't fully understand their purpose or what the whole thing is about. can someone explain it to me like I was a 5th grader.

 

[James]

I don't fully understand their purpose or what the whole thing is about. can someone explain it to me like I was a 5th grader.

For your information:

"A non-fungible token (NFT) is a unique and non-interchangeable unit of data stored on a blockchain, a form of digital ledger. NFTs can be associated with reproducible digital files such as photos, videos, and audio"


To Banks

Yes I can still see future with them at the moment and it might be better compare to blockchain tokens.

 

[Rollie Forbes]

I don't fully understand their purpose or what the whole thing is about. can someone explain it to me like I was a 5th grader.

I still don't see the appeal of NFTs, but I gained a bit more insight from the following clip. As people are being moved into a virtual world, NFTs and other digital trinkets will be used as status symbols and/or collector's items.

View: https://m.youtube.com/watch?v=I2Z0MKoUSMg

 

[Blackgravity]

I'm Kool on that VR ish, I like reality. Owning something you can't possess is (fake) is another level of delusion.

 

[Rollie Forbes]

I'm Kool on that VR ish, I like reality. Owning something you can possess is (fake) is another level of delusion.

I agree 100%.

 

[Jay]

I still don't see the appeal of NFTs, but I gained a bit more insight from the following clip. As people are being moved into a virtual world, NFTs and other digital trinkets will be used as status symbols and/or collector's items.

View: https://m.youtube.com/watch?v=I2Z0MKoUSMg

This didnt click with me until I was in @TheHarmattan’s metaverse thread. NFTs have nothing to do with the world as is, it’s apart of the overlay that these tech companies are going to make onto of the tangible world. In that context, NFTs are cool and could be a good way to make some money if you think ahead.

 

[James]

I'm Kool on that VR ish, I like reality. Owning something you can possess is (fake) is another level of delusion.

Yes you are 100% right and people are making money from things which actually not exists in the world. But I think this is what people called new future.

 

[sourgrapes]

I am going to keep an eye on them but I feel like they are just a trend right now. Like they are piggybacking off crypto. I could be wrong though. I see the connections with big tech and corporations. This is why name brands are hiring people to peddle them out. I don't see the point in owning something with no real-world value though.

 

[BlackEarthMonk]

From the artists' perspective it's a complete game changer. NFT's are a part of a larger technology that will redefine how ownership works. In short, blockchain tech can (and probably will) replace middlemen. Thanks to smart contracts, the original transaction is programmable--I sell my art with the condition that every time it gets used, I get a kickback. No third-party has to enforce it, it can't be undone, and everyone can see the transaction.

NFT's are nice, but smart contracts, Decentralized Autonomous Organizations, and trustless systems have the potential to render entire industries and governments moot.

 

[Victorystatus]

For your information:

"A non-fungible token (NFT) is a unique and non-interchangeable unit of data stored on a blockchain, a form of digital ledger. NFTs can be associated with reproducible digital files such as photos, videos, and audio"


To Banks

Yes I can still see future with them at the moment and it might be better compare to blockchain tokens.

Thanks for breaking that down in a more digestive way, the best example of an NFT explained to me is when Nipsey sold one album for $100 and people got access to a show he did after purchase. Then again that was a physical experience, compared to VR or the internet loop of a certain game. Then again, if TBA was to turn that January 6 broadcast into an NFT, who knows 😆 (because there is value in those rare moments). I'll have to agree there some degree of this does seem fishy, Dr. Claude Anderson said in Powernomics that we use the internet as a tool for empowerment and not chase these people down the rabbit hole and get stuck.

 

[Victorystatus]

On the other hand, if you did want to establish an international currency, this does look like a way to devalue the dollar and make it fun, IJS