Re:NFT projects are just MLMs for tech elites
by danShumway on Saturday October 02, 2021 @12:48PM
(#28730058)
> easier to trade and easier to verify.
Except no, not easier to trade/verify if you have to hook into off-chain validators to verify that the token is legitimate. The part of transaction security that matters for most people are the trust parts that NFTs explicitly don't try to solve.
The big problem with trust in any token system (and really any art market) is figuring out which tokens are being issued by whom and whether the token/work you're looking at is "real" and actually issued by the artist.
Which NFTs don't even try to help with; they leave that to off-chain validators.
Except no, not easier to trade/verify if you have to hook into off-chain validators to verify that the token is legitimate. The part of transaction security that matters for most people are the trust parts that NFTs explicitly don't try to solve.
The big problem with trust in any token system (and really any art market) is figuring out which tokens are being issued by whom and whether the token/work you're looking at is "real" and actually issued by the artist.
Which NFTs don't even try to help with; they leave that to off-chain validators.