First off let me clear up a common misconception that's been seemingly pushed pretty hard... NFT's are NOT only art and pictures. And yes, they will effect you in some very good ways!
Remember when Steve Jobs came on stage with the 1st iPod and introduced iTunes? Within a few years the CD racks at Best Buy, Walmart, and other retailers were all but gone? Apple created a multi-million dollar industry out of nothing and changed the way people bought and consumed music. Now every phone has this and more in it not that many years later. A massive paradigm shift in tech and culture. Many sub industries came along as a result while others were disrupted. Podcasts were born and now thrive for example. Anyone can start one and if your content is good you can out do a huge budgeted professional syndicated radio show in the NBC building in NYC by just recording from your home studio.
The point is change happens fast and in unexpected ways when new tech comes in that disrupts industries and NFT tech is as disruptive is a group of ADHD toddlers with power tools slamming Red Bull is to a China Shop. The key is seeing it and imagining where it will go. I will attempt to just scratch the surface of what will come if you'll bare with my ramblings....
First off NFT means "NON-FUNGIBLE TOKEN" which is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership. Basically it's like a super TRANSFERABLE proof of ownership & certificate of authenticity that can do a marinade of other things.
Let me give you some use cases:
Art. - This was the first and currently most common use of NFTs. Very simple to implement and allows artists to sell their work directly to consumers. This will massively expand into other fields like stock image and clipart sites. Kinda neat but no big deal. Please read on for the REAL game changers....
Games. - a $200 Billion dollar industry that is about to see a massive shift away from gatekeepers like Steam where you don't actually "own" anything. With NFT games you can actually buy, sell, trade, loan, and even rent out the games you purchase AND you don't need to go through a gatekeeper like STEAM to do so. Developers can also publish their games and sell them directly without the need for studios and retailers. It also opens up in game items and currency to be transferable as well meaning you can sell things you earn in games (Basically get paid to play)
Music. - Songs and albums as NFT's again allow you to sell, trade, loan, and rent out your purchases. artists can also self publish as well as do limited releases. This cuts out record labels. It also keeps consumers from being tied to one ecosystem like iTunes.
Apps. - Again you would fully own an app (sell, trade-in, give away or loan it if you like) and not be tied to any ecosystem like Apple or Google. You could buy apps directly from creators and they wouldn't have to give Apple or Google 1/2 the sale price.
Movies. - Full ownership. Sell, trade, loan. Not tied to any marketplace / service and no geo-locks.
Books. - Full ownership. Sell, trade, loan. Not tied to any marketplace / service. You could even set up a digital library to share the books you're not reading!
Tickets. - Highly fraud resistant tickets to any type of event form concerts, sports events, to movies. Bands could sell tickets directly to fans. GOODBY TICKETMASTER FEES! RIP you bastards!
Stocks. - This fixes most problems on wallstreet. Naked shorting, synthetic shares, Payment for order flow, dark pool trading, and eliminates the need for brokers. Trades would cost pennies. Companies would no longer be cellular boxed by Amazon into bankruptcy so they can take their market share. Full transparency! Virtually no need for the useless SEC.
Securities. - (Same as above)
Authentication. - All transactions are on the blockchain and can be looked back at and verified. You can also have a one of a kind NFT as a key for digital assets and verification.
Counterfeiting protection. - Popular items that are frequently counterfeited can come with a unique NFT of that item that cannot be copied or counterfeited and even a virtual copy you can use online in a game or metaverse. Nike, Coach, and many other big names are already signed up for this
Asset titles. (Physical & virtual) - Kiss title insurance goodbye.
Banking. - The full ability to be your own back using fast and secure layer2 networks with Fiat on and off ramps. Staking your crypto and assets to earn better interest than any savings account while not getting killed by inflation. Instant transactions from your phone, watch, drone, car that cost virtually nothing for you AND the retailer.
Loans - Taking cloud sourced loans out against real / digital assets in a worldwide market of competing rates and terms.
Mortgages. - Posting your digital mortgage and getting better offers / rates from all over the world on top of a smart contract that protects you without the need for lawyers or banks.
The list goes on with use cases we can only dream of & GameStop / GMErica has launched the platform to do it built on LoopRing's ultra fast and cheap Layer2 technology. Every one of these transactions is virtually instant and costs a few pennies. Far less than any credit card fee.
No middle men, contracts, labels, studios, or lawyers needed. More money for the creators / artists, cheaper prices to consumers, more features, flexibility, security available.
Guys this is HUGE. Don't let the MSM sour you to the idea of NFT's. It's one of the biggest threats to their system out there. The timing of this is also pretty wild. The GameStop stock split / dividend is at the end of next week. It also looks like they may be launching something else next week on their digital marketplace. They and the LoopRing team have strongly hinted at taking down the global financial system and replacing it with something better. A new digital NFT stock market system that would wildly shift money and power away from Wall-Street to a fair system that would never need another bail-out due to greed and corruption again
I'm of the opinion this is a key component of the financial side of the plan. Taking away power, money, control, and resources from the establishment and gatekeepers must be done at some point right? This very much looks like the best way to do that. The GameStop short squeeze (That should be happening pretty soon after the split / dividend on 7/21) and the massive market crash that should happen right around the same time will set the stage for a new financial system to replace Wall-Street instead of ANOTHER bail out after the SEC has once again failed to protect investors and punish financial terrorists.
Ultimately an NFT marketplace (and hopefully stock system) means Power to the Players & Power to the Creators while taking the power away from the existing system all while eliminating much of the need for government oversight and regulation. The rules and regulations are programmed in and fully transparent. Eliminating the need for trust and responsibility to those in control once and for all.
Q said "Game Over" a few times. Sounds like "Game Stop" to me.
Interesting, I never thought about it that way, even though now it's very logical that they could be used like this.
It would really change the digital landscape for sure.
Although you speak about taking out the "gatekeeper", and in some cases that's not so simple, take games for instance, when you're talking about developers selling their games directly to the end user, there's a LOT of stuff involved here, most importantly distribution and support.
Steam makes it extremely easy both for devs and users because of their massive infrastructure, users can easily buy and download their games, devs can easily patch them, plus you got integrated discussion boards and whatnot, easy way of changing branches for testing/multiple setups.
Unless steam ceases to exist no one would ever stop using it, because those things are extremely hard to set up by yourself.
On top of that, this would be detrimental to devs in terms of sales of course, since most people would just resell their games at a discount, or trade once they were done with em, cutting out a considerable chunk of sales revenue.
It would be great for the end user of course
I can see Steam adapting to this though, they don't seem like such an evil corporation to me, even though the woke BS infiltrated it for sure, and it was founded by an ex MS guy... but we'll see.
Solid points. Just keep in mind developers still have micro-transactions like items, expansions, powerups, in game currency, and more they can sell at almost 100% profit without steam or another gatekeeper taking a cut.
When games were still CDs and not DLs game sales of new games were not that effected by reselling games however. People will always buy new games. Especially multi-player games to play with / against friends.
All gamestop needs is a launcher with patching / boards like multiple other gatekeepers have. It's not exclusive tech and they have sniped the best talent from all over. Let's see what they do.
I have stocks in Computer share GME and I have been buying, I have few shares. I didn’t buy them through anybody Can you tell me whenever you have a chance how I will know to sell them when Moass is coming? Do we do it through Computershare.com? And do they send the money to my bank account? How does that work? Please. This is my first investment in my life I do not know how things work. Also, it doesn’t mean I want to sell but if times come I will have no choice. God bless you. Thank you
Yeah you can sell through Computershare and send to your bank account. You just put your account # or connect your bank to it in Computershare. money is there in a few biz days.
As for when to sell it will be WELL AFTER the MSM says it's already over the first couple of times. I'm sure there will be stuff here and of course on reddit /SuperStonk
We have no idea how high this will go or for how long. It's uncharted territory
God bless you and thank you so much. My only friends are here in Great awakening. I can ask about anything and there is always someone nice and answer.
Thank you I will keep an eye on it.
You forgot one very, very important thing that NFTs can be used for:
100% verified Voting
Bingo
Exciting times coming, so glad I got in on GME and stayed in! For this all to be just a bunch of random events, there sure are a lot of them coming to a head around the same time!
NCSWIC, God Bless
Great post! I have GME. Have no idea how it’s supposed to make me rich but I like to be prepared so I bought 60 shares.
You'll have 240 shares in a week when the split / dividend happens, then the short squeeze starts and the price goes nuts!
Split happens on the 21st after market close.
Yeah I’ve got that part figured out. What I don’t understand is if the price skyrockets, who is going to pay if I cash out? Where does the $$ come from if everything else is crashing? Clearly I’m no autist when it comes to the stock market.
So the price will skyrocket due to demand from the short sneeze. Hedge funds "shorted" GME meaning they borrowed and sold shares counting on the price to go DOWN so they could rebuy them at a lower price, return the borrowed shares and pocket the difference.
The problem is they didn't bankrupt the company like they were planning and they've been doing to other companies for decades. They got so good and greedy at this they started making fake shares (synthetics) and shorting companies MORE than the number of shares that exist by ALOT. This was their infinite money glitch and it backfired this time.
That means they need to buy YOUR shares to return them to who they borrowed them from. So many brokers and so few shares means the price goes parabolic. This is called a short squeeze, The price goes nuts due to them being forced to buy shares at any price to close out their short. They are insured by their clearing houses and THEY are insured by the federal reserve.
GameStop is shorted at LEAST 500% meaning they need to buy and return every share that exists 5x.
When VW was only 20% shorted in 2005ish it went from $40 to a little over $1050 a share in a few days. This will be MUCH bigger.
So appreciate this explanation. Thank you for taking the time!
They have a billion shorts,they will need 3 billion more shares,just to issue the dividend. Computer share will give about 150 million shares to the DTCC to cover shares in brokerages. They can't give a cash equivalent as that is a taxable event.
Hedgies are fuked.
What’s the ex-splitdiv whatever you call it date?
Until split I think - night from July 21st to 22nd.
🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 great post, fren, thank you for taking the time to put that together.
Who is it that would enforce "ownership?"
What makes NFTs "unique" so that they can't be replicated? Is it an encryption language?
I'm not much with the digital world. It all seems fully retarded to me.
Would love to decentralized entertainment though. That I can get down with.
Think about it like all digital assets (music, movies, video games, in-game assets likes skins, etc.) all will have a serial number and the creator can control how many are minted (published). This minting process and the assets history are public and can be verified by any buyer prior to purchasing. This allows for verifiable authenticity.
So let’s say I’d like to buy a used Rolex, I go in GameStop’s marketplace, look up Rolex, and find a seller. Before buying the watch, I’ll check the NFTs history and see which address minted the NFT that is associated with the physical product because the ledger for minting and ownership is public. If the seller does not offer an NFT, that should be a red flag to walk away. Same if the NFT publisher/minter is not Rolex.
The sweet part is the minter can add royalties to their NFT so during resale they’ll continue to make profits on every resale. In my opinion this is the big part of getting quality products back in the hands of people.
Would blockchain be useful/applicable to voting and voting integrity?
Could be used for sure but I am for real ballot + id vote cast.
I’m still trying to figure this one out because how can you really verify the numbers they’re showing you are the ones that are accurate. In theory yes it can help, but i think it would require more transparency than provided now.
For example, how do I know certain addresses on the blockchain are legit people and not fake or illegal immigrants?
In terms of tracking ballots, it absolutely can help in making sure there are no counterfeit ballots or additional ballots were injected. But for tracking legit people there may be some additional work/technology needed.
I'm intrigued. I still don't see the point of any of that in God's garden but if we're gonna keep matrix-ing then seems useful.
Assuming Satan lovers don't just kidnap/clone/imprison/blackmail and steal the same way they do now.
Honestly, there are lots of things that will become obsolete in God’s garden. But we got a world to save now, let’s try our best to make this world the best we can for every one.
I would love to be able to trade one of my call of duty skins for a Fortnite skin (for example), and this technology enables that. More importantly this will stamp out fraud that the DS and nefarious actors use in the financial markets (eventually).
If you look past the current application, this really will be revolutionary.
Hey, color my interested. I would love to decentralize EVERYTHING and make it more possible for people that want out of the matrix to build a life without slavery systems.
The small-potstoes/ peer-to-peer application seem to be limitless and promising.
It's the big-potatoes that could be subject to the same shenanigans as we've witnessed for millenia. Someone has something super cool that everyone wants to enjoy so the demons take it or take the "owner" or take everything.
The only things I know for sure are these: we CANNOT continue this way without extinction looming; this matrix isn't God's way for us; I don't know how we'll get to the garden but I know we'll get there.
Maybe this is the way, fren.
Thanks for the post.
For sure, that’s a spot on assessment imo! Early adopters and enthusiasts really only make up roughly 15%-25% of any population.
I’m happy to answer any questions you have about the tech because to be honest, this has the possibility to destroy the “middle man” market. I also feel as an investor you should have a strong understanding of the technology they’re developing, it will shift your perception on how important your investment really is in this in terms of societal change.
Seriously, there are no dumb questions, just ask, and I’m happy to try and answer, Fren! :)
Check it out passively whenever you have time, I believe there’s benefit to getting in front of this as you’ll know confidently when tech finally fully matures because this isn’t going to be like any old product release. It’ll probably span some time with newer and better features/integrations happening over time. And no problem for offering to help! There’s a lot of bullshit out there so be skeptical with anything you read, as I’m sure you know lol.
This is gonna be huge!
Indeed! Buy GME stocks (NOT on Robinhood or any app, DRS through ComputerShare or use a solid broker like Fidelity) and LoopRing (LRC)& ImmutableX (IMX) tokens to ride the wave!
I’m already in gme/lrc/imx, LFG!
I'll see ya on some tropical island soon fren!
🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 let's go!
So if I only own 1.3 shares, can I at least buy a shack in the woods? Lol unfortunately most of my money is tied up elsewhere.
Great post, thank you. :)
Incredibly well written post...is this on superstonk yet?
Yeah, didn't get much traction tho
https://www.reddit.com/r/Superstonk/comments/vzjyie/the_revolution_will_be_tokenized/
Ah well that figures. You are early but not wrong! Thanks for the post
The subject is NFT's not currency. You're making a category error. Did you not read the post or did you only read the tittle?
Because they will issue shares on the blockchain one day - can't be stolen.
Are we sure they're thrashing NFTs and crypto? To me it seems like the opposite, that crypto and NFTs are being pushed, HARD. Be that ads, news on Google (YouTube included), big corporations announcing their own crypto wallets and coins and letting you pay in crypto... It's priming people to accept a fully digitalized identity that includes spending your life and all your money in the "metaverse". Everything you do will be under heavy surveillance, yet giving you the illusion of privacy thru "block chain" tech and encryption.
NFTs are a big ponzi scheme. No thanks. It reeks of you will own nothing and be happy. Another push for digitalization of everything...it's really not as safe as they make it out to be, your NFTs can be hacked & stolen and you have no legal recourse just like Seth Green, you'll have to buy back your NFT (if possible) or accept the loss. Also, as someone who's also part of the gaming industry I can say that gamers want nothing to do with NFTs in their games as it's clearly another form of squeezing money out of customers.
I've noticed that the "mainstream powers that be" are pushing NFTs HARD, but only in the idiotic and stupid fronts of jpegs and art. There has 100% been an organized effort over the last 2 years to paint NFTs in a negative light of art, jpegs, and gambling nonsense. No one with a voice in mainstream has been talking about all of the quality use cases of NFT technology. I personally think the Cabal is very very afraid of decentralization and NFT/tokenization technology, because they know it has the possibility of ending much of their power/control (stock market, fiat currency, centralized banking, fractional reserve banking, middle-men, sectors having lack of transparency, etc).
As I understand it block chain technology can just as easily be centralised as decentralised. If I understand correctly it already is more centralised than people like to admit.
Its still fiat in that it isn't tied to anything physical and the users have to agree it has value. Even if an NFT is somehow tied to a physical or digital item, there has to be some consensus that the connection is real. Like say someone pirates a song - it doesn't have an NFT saying its authentic, but does the person listening care?
The central banks are all pushing for digital currencies that they want to be tied to digital ID. Then the tech can be used against you. e.g. You could be issued smart money that can only be spent in certain places and expires after a set time. Smart contracts could be used to put very specific limits on who can do what based on social credit scores etc.
No they are trying to associate NFTs with only art and virtual items and bomb you with stories about loosing them and money which you just parroted out. See how well that works?
You're thinking in a small category and missing the points about actual digital ownership via NFTs that you DON'T have now. You currently own zero digital items on google, apple, steam, or any digital gatekeeper even if you've spent thousands.
So gamers don't want to be able to play and earn or sell the games they don't play anymore? That's not remotely true.
I see your point about digital ownership. As an example Ubisoft recently announced they would disable content for some of their games that are single player but required an internet connection. Dick move IMO.
However, with an NFT you still only own a token that says you own the game. It only has value if people agree it has value i.e. its still fiat.
The problem is that you can't really own anything digital.
No the game IS tokenized. It IS a digital asset that you CAN own. You DON'T have that level of ownership currently for most any digital content.
It creates new value where none existed like the ability to trade / sell / loan digital content.
It's no different than a piece of paper that says you own land, cars, or homes. It's just better in every way.
Can you explain a bit more how that works? Surely the whole game can't be a token on the block chain (too much data).
Would the token be like a serial number that you need for the game to run? How does that work if the block chain is public? Its encrypted?
Can't someone still copy and crack the game so it runs without the token? Being able to make a perfect copy without affecting the original makes the digital space different to the physical.
That's how I understood it too. The piece of paper means nothing if there isn't some social agreement to honour it. Currently its the police who enforce ownership via threat of violence if you steal something.
The blockchain records transfers of that token (and that asset) to your wallet which is your account where you can do with your asset what you like including transferring, selling, trading.
OK I understand that much.
So if the users collectively agree that someone only owns that thing if they have the NFT, fair enough.
But there's nothing stopping someone from copying a game, or music or whatever and using it without caring about it being authentic or not. Maybe there would be some way you could encrypt it to only unlock for someone that holds the token? But as I understand it the block chain is open source so you couldn't put a key inside an NFT because everyone could see and use it then.
The blockchain is transparent but an item with a unique ID connected to a unique wallet could only be run by that wallets holder unless that item's user transferred it elsewhere then it could only be used by the recipient block chain also means chain of ownership
Fuck your nfts, fuck your crypto,fuck your fiat! As long as they are not backed by silver or gold(something of real value) they are not any better than fiat. WELL,better for the government to track you with.
Oh,but they can't just print more out of thin air like they can fiat. Bullshit! Where the fuck did it come from to start with? OUT OF THIN AIR!
What fuck8ng good is this digital shit if the lights and internet go out. How are you gonna spend it if you can't get it off your memory stick and onto an exchange to use it?
CASH IS KING!
We're talking about NFT's, not currency. Apparently you decided to mash your face on the keyboard instead of reading the post. A post for people just like yourself that don't understand wtf an NFT is and what they can do.
Apparently you didn't read the first line.
Oh I did. It makes zero sense in the context of the post which you clearly didn't read. You went off the ttile and your misconceptions alone. Congrats! You're an ally of the MSM!
Care to explain how exactly you want a musician to back up their songs with gold and sell them digitally? Or tickets to their concerts? Or how to back up a stock system with gold with built in fraud protection and being able to eliminate corrupt gov agencies like the SEC that cost taxpayers billions?
I'll wait while you work that out.
You're just a close minded fool that's shaking his fist at a tech you don't understand and missing the point. It's not about currency, it's about building trustless systems to cut gov regulation and oversite, lower costs, eliminate corruption and take power away from the establishment. Small minds see small things.
You literally have no idea what you’re talking about and it shows. Do you have any questions I can help provide clarity on?
I would highly suggest getting educated on the subject matter before it’s too late and you look like one of the people that thought the internet was a passing fad, you’ve still got some time, Fren.
Nice, happy Friday to you too. Thanks for sharing and spreading your vile bile!
Cash ain't king of crap, welcome to the digital age. Until we return to a dark age this is the way of the future. What good is cash when bread goes to $1000 a loaf? Well, if the lights go out you can try passing off a handful of $1s as $100s.
If the internet does go down, you can likely do peer to peer transfers. I doubt they're putting all this into a new system only to have it easily foiled.
Go drain the pee out of your Wheaties and try milk.
There is no other way. Cabal wanted to make metaverse and grab control of it anyway. This is the best way how to do it and actually let people have some control.
Having non-fungible token contracts using blockchain would help make many vague and nebulous processes/practices more transparent and harder to counterfeit. Consider an NFT minted to match a low mintage run of sovereign coins. Physically, someone could come really close to replicating a silver coin (whether with silver or something magnetic doesn’t matter). If each physical coin is then paired with a digital NFT, then counterfeiters are done. It’s essentially 2 factor authentication for everyday living items.
However, I also think that whatever currency the United States returns to needs to be backed by precious metals. We are still owed our 4th amendment rights to be secure in our person (privacy) so having a physical medium of exchange without blockchain would be necessary.
I still haven’t come to a final conclusion on how crypto/blockchain get implemented that still respects our privacy since blockchain is all about transparency. We might have to convene some smart people as a country and decide how it gets implemented.
How would you pair a physical object (like a coin) with a digital NFT in a way that could not be counterfeited? Genuine question.
Each seller would have to pair the digital and physical item. Basically, if you were offered a physical coin without the matching NFT, you would be best to assume it is counterfeit or stolen. It might also help to recapture/recover stolen property if you can bring your NFT to the authorities for the paired physical item that is no longer in your possession.
Again, implementation will be a process and I’m not sure how it will rollout (if it does).