Melania Trump will Launch an NFT and Blockchain Technology Venture
(media.greatawakening.win)
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Let’s play a game. Let’s pretend I have no freaking idea what this means.
Now, you explain:
Suddenly idiots spend millions of dollars to "own" an image, that's publicly available on Google Drive, and anyone can download. That's what an NFT is.
Tying the physical artwork, and the physical accessory, to the NFT is interesting. Not sure how that works. Seems like it could totally destroy the counterfeit wine market, tho.
NFT's are essentially a form of DRM.
NFTs didn't really make a whole lot of sense as the digital art certificate. However, when you start conferring legal rights like property or Copywrite you start to see some value.
However, it became clear to me that the ideal use case is digital assets for digital consumption. Think of in-game assets, they are perfect NFTs.
All those fortnight skins you bought can, be stored on the blockchain and technically transferable if your next environment uses similar architecture. Also by nature, there is also an immediate secondary market to sell those off after you are done with that game.
Another even more creepy use case is the metaverse... want to be a part of Zucks or any other Metaverse, all the items you use in there are essentially NFTs. Skins, Land, Cars... anything else you can think of.
In some ways, it makes a lot of sense when you pair crypto with NFTs for gaming. You can essentially turn on that time invested in leveling up a game into something tangible that could potentially have appreciation value provided you invest in a long-standing game like Minecraft, fortnight, Roblox ect.
Its going to be an interesting market to watch and there will be a lot of money to be made for some over the next 10 years.
Did you mean "copyright" as in having the right to copy?
I agree that NFT's have real use-cases for digital rights management. I'm mostly disappointed in humanity that most of the hype seems to be around shitty profile images.
Stop screaming fren. You'll always get an explanation from those who have more knowledge on said topic if you simply ask.
Ummm, just a bit more to it than that...Its a Digital Asset... https://www.simplilearn.com/tutorials/blockchain-tutorial/what-is-nft
https://finance.yahoo.com/news/worlds-most-expensive-nft-piece-170800412.html
https://www.finder.com/most-expensive-nfts
In a virtual world. 🤣
NFT stands for a non-fungible token, which means it can neither be replaced nor interchanged because it has unique properties. Features -
Digital Asset - NFT is a digital asset that represents internet collectables like art, music, and games with an authentic certificate created by blockchain technology that underlies Cryptocurrency. Unique - It cannot be forged or otherwise manipulated. Exchange - NFT exchanges take place in cryptocurrencies such as Bitcoin on specialist sites. Cryptopunks is a remarkable example of NFT. It enables you to buy, sell and store 10,000 collectables with proof-of-ownership.
It does sound like a collector's item and in the end, more valuable over time, even priceless well into future when we're all gone.
It sound exactly what a Trump move is and they've factored in an already won future. Hopeful.
What the heck is fungible, let's start there lol
Fungible means you can break it down like how you can make change for a dollar, or how you can make different size gold coins, aka 1 Troy ounce, 1/2 ozt, 1/4 ozt, 1/10 ozt, etc.
Precious metals have all the properties of "money" largely because they can belted down or cut down to different weights and sizes.
Sticking to Fiat, a dollar can be broken down to quarters, dimes, nickels, etc.
That's fungible.
Not exactly.
Now I agree that NFT's are kinda stupid but you missed a big point in there.
When you copy a jpeg from a google drive you have a copy of it but you do not own the rights to that work.
NFT's, once purchased, not only give you a copy of the artwork or whatever it is, you also gain the property rights to said work. That is a big difference.
Case in point. Tom MacDonald purchased an NFT from Eminem containing an original beat by Eminem. MacDonald was then able to produce an original song using the beat from Eminem but cannot be sued because MacDonald owns the rights to that beat. In addition he was able to say the song was produced by Eminem, because it was, there by adding value to the work.
That is a pretty big distinction from copying a jpeg from a google drive.
Could this eventually be tied to truth social?
Yes it could and I would assume it will to some degree or another. Is this Melania doing charity or are the Trumps staking their claim in the digital economy. I think it is probably both, but we'll see how things shake out.
Similar to buying a genuine baseball card or a mint condition comic book, but in digital form. The upside to this is it will always be in mint condition but the downside to this is it's intangible.
You are the sole owner of said baseball card/comic book and any copies of them out there will be considered "counterfeit".
Yes, except you own all the rights to said comic book and you can choose to publish it, change it, anything you might wish to do because you are the owner of that work.
^^^^^^^^^^^^^ Thank you for useful explanation with an example for the retards of GA.W =P
One thing the internet has been really good at is making people forget about the idea of ownership and property rights. Seems they get it when it is their land or their house, but when it is an mp3 there is no such thing as ownership and it should just be free... Well agree or disagree, someone spent a bunch of money making that mp3. Arguably the user should compensate the owner for its use. NFT's do bring a new dimension to this argument and it will be interesting to see where it goes...
But you do not have rights to reproduce or display that image, other than to just look at it on your device
I believe you actually do own the rights to do with it as you please.
When you purchase the NFT you own the rights to do with it as you please. I was trying to respond the gentleman who said you can just look at it for free on google drive. I haven’t posted much and may not have been clear.
Reddit is trying to learn people NFT is bad. Look at /all and scroll down. You will find some hate. On the other hand GME via loopring and now Melania pushing NFT. Well well.. Didn't see that one coming. I don't think she would do something like this by herself. It's message from white hats I guess.
Ok, yeah that was my thoughts. This is 5D chess, and I have a very hard time keeping up with it all. I’m happy to have pedes like y’all to help me stay up to date with this stuff.
NFT is very anti-open source / open-internet. It's like those people who have websites where you can't right-click and save-as the pictures.
It's a "mine mine mine" mentality, and is essentially greed/money motivated.
Imagine one day the internet knows who owns pictures from memes and blocks anything that doesn't have the NFT right to that image. That's what NFT's provide.
I'm not a fan.
Because you are thinking about worst usage you possibly can. What about whole financial system based on blockchain technology? Do you realize they can manipulate markets right now to the point whole market is fake? If you didnt see Wall street conspiracy document give it a try.
It seems you think since I'm not a fan of NFT that I don't support blockchain. That's not a valid assumption. ;) 💎 🦍🚀 I do know that bitcoin and other crypto are NOT private, unlike gold and silver. But stocks and such definitely could benefit from blockchain.
This Joe Rogan song/vid someone made sums it up nicely.
It's...interesting... https://youtu.be/ujvsWiGmwj4
HAHAHAHA internet wins again!!!
https://melaniatrump.com/faq
Unfortunately, I get a 503 error.
Works for me, but here is the text:
FAQ What is an NFT? In simple terms, an NFT (Non-Fungible Token) is a digital file that contains a one-of-a-kind code and is permanently recorded on a blockchain. Accordingly, an NFT cannot be altered, thus guaranteeing authenticity and provenance.
A blockchain is a decentralized, digital record that cannot be forged or counterfeited. Each time a transaction occurs, it is recorded on the blockchain ledger, and is transparent to the public.
No two NFTs are alike, thus providing exclusivity, scarcity, and value in the digital realm.
Non Fungible Token
For a picture its like a digital canvass that has been verified by being on a block chain so you know this is the original of that picture vs a copy, kinda like the mona lisa is the original but if you try to pass off a copy people will know cause there is only one of them.
My feeling is at the moment its a bit of a wild west out there with the picture NFT's cause people are speculating that they are going to be worth more but mostly like with the crypto space its mostly gambling and hoping for the best. Now for me having a original NFT picture rather than a jpeg copy would make no difference and neither would be having the real mona lisa vs a copy as they would both look the same but one has more value to others although the whole art industry is pretty much just money laundering and tax evasion scheme so who knows if they will be worth more in the future.
But NFT's can be used for far more than that say things like the deed to your house by having it on a blockchain there can only be one deed and if you own the keys to that NFT you are the owner of it, if someone were to try to create a fake it would be easy to detect. To me that has value.
In gaming NFT's could be something like a one off sword for a MMO game which would also allow you to trade it to someone else, there could also be one hundred of these swords and you would know yours is the 56th one or whatever and such has some value to the game. One of the things Synth from Skycoin mentioned was because the trading of the gaming NFT's would be transferable it could mean that say you play the hell out of a online game get a bunch of cool items but then decide you want to start playing another game you would be able to trade those for ones in a new game and so in effect you would be earning a little money or value from playing a game as you can cash out the items which you don't need anymore.
Skycoin is currently making a game to showcase NFT's on their platform which will have various items that can be traded and kept, meant to be a bit like Terraria but with the ability to breed cats iirc so if you have a rare cat NFT it could be worth money cause people will want to breed with your cat so they can have a unique one for example.