Melania Trump will Launch an NFT and Blockchain Technology Venture
(media.greatawakening.win)
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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.
So, I’ve read this before, and maybe I’m just daft, but is it possible to explain this in layman’s terms? I’m not someone who isn’t technically inclined, but I’ve never fully grasped the whole NFT thing. First thing that made me go “ugh” about it was a business article I read regarding a “pop vinyl” NFT, so I looked up what an NFT is, which made no sense to me. I don’t understand it at all? Thanks in advance.
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.