NFTs

Out of context: Reply #398

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  • microkorg-4

    I don't think NFTs are going anywhere, they are definitely here to stay and we'll see them becoming more mainstream especially now that the gaming industry and now the film industry is making moves in NFTs.

    Saw a few posts on social yesterday that have inspired this rambling. I thought that some of these points might help illustrate uses for NFTs that non-believers may feel more 'legit' or understandable than 'buying a jpeg' ;)

    NFT in the MOVIES
    'Zero Contact' with Anthony Hopkins is the first movie where you will need to own the NFT to watch the movie. This is a pretty piss-poor implementation of the technology IMO.
    But what about, you get a ticket for the cinema to watch the film, you opt for the slightly more expensive 'NFT Ticket' option. This is a contract on the blockchain to say you have a right to this movie. Then going forward, whichever platform you use for streaming movies - Netflix/YouTube/Amazon/Sky etc you will ALWAYS have free access to this film.

    NFT in Games
    Will be huge! Gamers are already used to paying money for a token that says they have ownership of something that isn't physical - weapons, cars, coins, level-jumps etc.
    Proof of ownership of items on the blockchain could, like the movies, allow for multi-platform ownership or even integration (e.g the NFT artworks you own hang in the home of your GTA character).
    https://www.lexology.com/library…

    NFTs as Social Currency
    Quoting "NFTs will become a fundamental part of social currency in the future. NFTs are non tangible, but they have the potential to carry more weight than something like a physical painting because of it's online presence and social status. Like a blue check mark on Twitter - flexing your NFTs can be a way to communicate your status and wealth"

    This is happening now - big stars grabbing CryptoPunks and BAYC Apes to flex.

    Documents & Records
    In 2019 South Korea very successfully introduced on-blockchain driving licenses.

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