NFTs
Out of context: Reply #399
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Re: Microkorg's post
https://www.qbn.com/reply/403259…NFTs might be here to stay but I would like to point what NFTs are not and what they are not contributing to.
NFTs in the MOVIES
I don't see how the nature of NFTs would grant you access to viewing a movie in different hosting services/platforms. The option to buy a digital movie already exists, there are options to buy the movie and download it and options to buy the movie and view it on the service you bought it from (Amazon & YouTube for example). Your rights to view the movie do not transfer across services. Here I would like to point out that you do not have ownership rights to the movie, just as you have no ownership rights to the artwork with an NFT. This limitation doesn't come from the technology available but from the deals between the different companies involved. NFTs do not provide any innovation in regards to the contracts between distribution services and production companies.The 'Zero Contact' example seems like only a gimmick since we already have means to buy access to digital content. There would be the sentimental value of owning an NFT but it's the same as owning the receipt for an online purchase. Furthermore, if any of the online streaming services would disappear you would be left with your dick in your hand. This is the same case for NFTs, specially for those that believe that owning NFT equals to owning the 'artwork' hosted on the NFT commerce site.
NFT in Games
Same case as the movies. There are already several cloud gaming services and your purchase of a game in one service, or a physical copy of the game, doesn't carry to the next. This isn't a technological limitation but a commercial one. NFTs offer no innovation in this domain either. We already capable of buying and trading items within a game.NFTs will probably be used more as a sales point because they are a new thing. They are more like a credit card with a trendy background. They offer no innovation in regards to the transactions already available.
What I do find interesting is NFTs as a social currency. We already know they are the new token for conspicuous consumption. I enjoy how they hold a magnifying glass to speculation, by using crypto they are a tool for speculation on top of another tool for speculation. I would like understand how so many people agree on a arbitrary value on an object and assign that value to a symbol. I see it more justifiable with other objects like Pokémon cards or Beanie Babies where there is a real scarcity of one object but with NFTs all instances are as scarce as the next since they are all by definition non fungible. Ultimately, all these collectible objects are only valuable to those who care for the objects and have no value for those outside that circle, I see no problem with this. We have to accept NFTs for what they are and not shoehorn qualities into them that they do not possess.