There are some practical applications, like managing digital rights.
Right now if you want to Trademark something you need to apply for a trademark. An NFT would let you demonstrate ownership of a trademark without stopping other people from being able to reference it.
Or an artist could have a collection of work, and publish the links for all of their files, so that people would be able to know exactly which works are created by which artists to avoid copies or fakes.
Right now most the NFT craze seems to be around idiots not understanding what the technology actually does and what it's for. And people seem to think it's some kind of get rich quick scheme.
Perhaps it's to wake more people up to the benefits of blockchain tech so that we will be more willing to switch over to an unhackable, transparent voter system or if we adopt the decentralized currency aspect after we do away with fiat money.
Agreed. This is such a stupid use case for NFTs. NFTs have great technology and potential behind them, but the current companies pushing NFT collectibles/cards/virtual items is cool and all.... but its still just meaningless bullshit to make money. It really is starting to feel like they are setting the stage for everything Metaverse, everything virtual, you own nothing (physical) and youll be happy, "The Beast" system (AI) that Revelations talks about.
The truly GOOD use cases of NFTs are something like a stock market replacement. Every single share is a unique NFT that cannot be copied, duplicated, or exploited in any way. It is all backed by cryptographic security and public ledger for transparency. This would remove much of the corruption & fraud we see in the stock market today.
Another GOOD use case of NFT technology would be to make all video games an NFT and provide an NFT marketplace for game designers. This could completely remove the middle-men (publisher) in the game design world, developers could work on projects at their own pace, developers could decide how many copies are released, profits go directly to developers and a tiny % of those profits go to the NFT marketplace owner. Then ontop of that, it benefits the buyer of the game because they 100% own a copy of the game, the buyer has full rights over that game, and the buyer could sell that copy of the game to someone else later on if they want to.
This whole NFT collective shit that the likes of Melania and Michael Jordan are pushing all of a sudden scream nothing more than them trying to get into the blockchain space early for big profits because they know blockchain is the future (similar to what the Internet or dotcom boom were).
How does it work for physical asset tie-ins? Melania is saying each NFT will include a physical artwork and a unique accessory. What's to stop someone from separating the physical artwork and making a counterfeit? Curious myself, but also for a wine-collecting fren...
NFT's are for people who like exclusive and collectable things but realize this is a digital world. It allows people to create Mona Lisa's digitally and limit who can own the rights to it. Physical counterfeits are common, especially from China, but there's usally something that gives it away as a counterfeit. If you don't mind knock-offs then it doesn't bother you but you can't prove it's real, much like having a fake Rolex. You can impress some, but others can tell. She's basically doing an art sale as a fundraiser with a hip digital savvy part to it for people who like that kind of thing.
Wtf that is so weird.
There are some practical applications, like managing digital rights.
Right now if you want to Trademark something you need to apply for a trademark. An NFT would let you demonstrate ownership of a trademark without stopping other people from being able to reference it.
Or an artist could have a collection of work, and publish the links for all of their files, so that people would be able to know exactly which works are created by which artists to avoid copies or fakes.
Right now most the NFT craze seems to be around idiots not understanding what the technology actually does and what it's for. And people seem to think it's some kind of get rich quick scheme.
Thank you very much for the explanation! Do you have any thoughts on the purpose of Melanie creating this NFT?
Perhaps it's to wake more people up to the benefits of blockchain tech so that we will be more willing to switch over to an unhackable, transparent voter system or if we adopt the decentralized currency aspect after we do away with fiat money.
to make money
And also use it for helping children who are aging out of the foster care system, as per her statement
Agreed. This is such a stupid use case for NFTs. NFTs have great technology and potential behind them, but the current companies pushing NFT collectibles/cards/virtual items is cool and all.... but its still just meaningless bullshit to make money. It really is starting to feel like they are setting the stage for everything Metaverse, everything virtual, you own nothing (physical) and youll be happy, "The Beast" system (AI) that Revelations talks about.
The truly GOOD use cases of NFTs are something like a stock market replacement. Every single share is a unique NFT that cannot be copied, duplicated, or exploited in any way. It is all backed by cryptographic security and public ledger for transparency. This would remove much of the corruption & fraud we see in the stock market today.
Another GOOD use case of NFT technology would be to make all video games an NFT and provide an NFT marketplace for game designers. This could completely remove the middle-men (publisher) in the game design world, developers could work on projects at their own pace, developers could decide how many copies are released, profits go directly to developers and a tiny % of those profits go to the NFT marketplace owner. Then ontop of that, it benefits the buyer of the game because they 100% own a copy of the game, the buyer has full rights over that game, and the buyer could sell that copy of the game to someone else later on if they want to.
This whole NFT collective shit that the likes of Melania and Michael Jordan are pushing all of a sudden scream nothing more than them trying to get into the blockchain space early for big profits because they know blockchain is the future (similar to what the Internet or dotcom boom were).
Probably to release clues for anons as image files.
LOL
Could this be tied to truth social?
How does it work for physical asset tie-ins? Melania is saying each NFT will include a physical artwork and a unique accessory. What's to stop someone from separating the physical artwork and making a counterfeit? Curious myself, but also for a wine-collecting fren...
NFT's are for people who like exclusive and collectable things but realize this is a digital world. It allows people to create Mona Lisa's digitally and limit who can own the rights to it. Physical counterfeits are common, especially from China, but there's usally something that gives it away as a counterfeit. If you don't mind knock-offs then it doesn't bother you but you can't prove it's real, much like having a fake Rolex. You can impress some, but others can tell. She's basically doing an art sale as a fundraiser with a hip digital savvy part to it for people who like that kind of thing.
Thanks.