NFT (Non-Fungible Tokens) - Files as crypto currency

[A Pile Of Fucking Ashes]

Got another bit of NFT cringe, looks like bronies have discovered NFTs:
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Imagine almost spending $500 to buy some Pony Creator looking abomination.

This accursed fandom simply refuses to die, doesn't it?

 

[Samoyed]

lmao

 

[centaursTesticle [CT]]

NFTs are a bright shining turd on the internet, currently in cook group where people run checkout bots for this shit, like they will have a monitor set up so they can scoop up 1000 "Bored Dildos" each then jack up the price on "Bored Dildos". The biggest hit for NFTs, I'd say ever, was NBA Top Shots, which was a complete joke of a project. You can't move your "Moments" (clips of a game) to a separate wallet, so you can't sell anywhere other than their shitty marketplace. These things went for like $10k+ each for the 1/50 dumbo rare Lebron superjam or whatever, but any pack you buy would have Moments that are worth more than the pack itself. It was EZ money, just open a separate screen, like a phone or smth, and buy packs each time they dropped. Open the packs, sell all of the moments immediately, and make out like a bandit. Right now tho, I'd say it isn't worth it.

As for NFTs having zero use case, I could see NFTs being used for something like skins in CS:GO, a overarching replacement to the Steam marketplace that can be compatible with multiple different services. What if you could directly trade Fortnite skins for CS:GO knives, or maybe if you could trade stuff from Tarkov for WoW gear? Facilitating this as NFTs would make sense, getting devs onboard would be the hard part, but I can see something like this happening in the near future.

But that also confuses me because CS:GO skins are sth you can use in game. Fortnite skins too. They're all like, things you use, albeit for aesthetic purposes. But you can't use a funny monke picture to do anything, so what's the point in buying it other than eventually selling it yourself?

 

[Spergenschütz]

credit

 

[Törni]

Imagine using videogames, a medium meant for entertainment, as a job.

I'm gonna sell you Completely OVERKILL Pack and all the other couple other rare masks on PD2 as NFTs. They're not redeemable in-game though, hope you enjoy them!

 

[TayandYou]

I think we're being a bit early. We need to start documenting the massive amounts of copium when Sotheby's realizes how pointless another less reliable money laundering scheme is and plunges the prices into the ground.
Otherwise, it's pretty comfy seeing shitposting subreddits meme so hard about them

I think it's a great idea to start this thread now. Sure, we're a little early for the collapse, but watching consoomers with too much disposable income and cryptobros who overestimate their intelligence get scammed repeatedly with the same tactics every month is pretty funny.

 

[Pandalia]

Spoiler

At least those monkey jpgs and ahegao face lions are images with lines and colors you can look at. You’re telling me some chumps out there are buying randomly generated “loot” (text on a plain background) for 10k usd?

I don’t know if this is better or worse than getting scammed into buying emoji collections. I mean, people are WILLINGLY buying these.

Edit: oh and since I haven’t seen it posted here, #RightClickVictim (tweet archive just in case)

 

[JoyfulDarter]

I'm really curious as to what these game companies see in the NFT concept because I can't make sense of how they'd improve (from either their perspective or gamers') their games with it.

The game developers likely don't see anything to this concept, it's the game publishers who see an easy way to scam retards out of money. From what I can tell, NFTs are like this hellish union between Funko Pops, trading cards and digital licenses so you don't even have to manufacture anything.

 

[Lieutenant Rasczak]

This guy is offering upwards of 69 Trillion ETH for a token of ownership for a png or jpeg that can be yoinked using copy paste. I also decided to go onto /biz/ and /biz/ users are mocking NFTs and NFT based technologies. Inspect Element used for extra spooky woo effect.

 

[Akashic Retard]

There are some NFTs that actually look good imo and aren't half assed garbage, like these from crypto youtuber Benjamin Cowen.

Spoiler: left click

 

[TheRetardKing]

>my face when Charlie Bit Mt Finger became an NFT:

 

[Tetra]

 

[Meiwaku]

This is a good topic OP.

 

[Least Concern]

How exactly do you store an nft? If it cant be replicated, how do you send it to someone? Please be patient, I'm exceptional.

tl;dr if you're already familiar with crypto: The same way you store a Bitcoin, an Etherium token, etc. Think of an NFT as a particular, easily-identifiable crypto token.

Otherwise: Okay, we all understand that blockchains are specialized databases, right? Well, think of all of that data on the database as being locked in a whole bunch of unbreakable glass safes. Everyone can see what's inside each safe, but nobody except someone who knows the combination to the safe can unlock it and take the data out. When you want to use a blockchain, you're given your own glass safe and its combination. Other people can move things out of their own glass safes and into yours, but only someone who knows the combination to your safe can move data out of it. So if you purchase an NFT, that token is put in your safe and everyone can see that it's in your safe, and since you are the only one that has the combination to that safe, you can therefore prove that NFT is yours.

(And also the combination to the safe is millions of numbers long and it's effectively impossible, at least with current technology, for someone to "crack" the safe. They could play a trick on you to get you to give them your combination, though.)

 

[Scheele's Green]

Some of these drawings are pretty cool. But I'm firmly in the camp that a screenshot is perfectly good and not buying it for internet points or whatever.

If these artists want to make money they should create prints or merch or something. The sperging when the inevitable happens is funny though. Good thread.

 

[Meiwaku]

Some of these drawings are pretty cool. But I'm firmly in the camp that a screenshot is perfectly good and not buying it for internet points or whatever.

If these artists want to make money they should create prints or merch or something. The sperging when the inevitable happens is funny though. Good thread.

Basically like I understand as an artist it's really hard to make it out there but just do prints or stickers.... also if the chimp outs weren't fucking funny I wouldn't wish for the inevitable click save.

 

[Akashic Retard]

Basically like I understand as an artist it's really hard to make it out there but just do prints or stickers.... also if the chimp outs weren't fucking funny I wouldn't wish for the inevitable click save.

The problem is nobody sells a sticker for $50k. Artists are seeing crap being sold for a fortune and want in on the action. I don’t blame them, ride the wave. Just be sure when the wave breaks it’s not breaking on you.

 

[Blamo]

The only thing I regret is that I didn't made something to profit from this.

In general I do see the appeal of the NFT technology, but this application is just some early and inefficient thing pretty much serving to sell the concept.
I can see Blockchains being the future of DRM. Imagine limited items, releases etc. of a game etc. The techno-disney vault is coming.

 

[Cool kitties club]

Another player in the NFT game is YAT. A service where you can buy an nft string of emojiis which will serve as a permanent digital identity with the devs hoping it to be a universal username across every site and crypto wallet. Itis made by Tari labs and already has opera and monroe integration.

Spoiler: Yat explained by its creators

Here are some sample YATs that sold for thousands

Spoiler

Spoiler: An average YAT made from the website

To anyone with half a brain this should be cause for concern. Buying an NFT product under the assumption it will be mass adopted by most sites is already a bad idea but who the hell wants their username for a site to be a bunch of emojis. The idea of trading these too seems counterintuitive to setting up an online identity with one. Who knows maybe in the future all of out usernames will be.

 

[irishAzoth]

please note that NFTs aren't just native to Ethereum they are on most modern chains
such as Algorand, Solana and on Ethereum's Layer 2 (fantom, polygon)