It is difficult for the average person to conceive of how useless NFTs are

Re:It is difficult for the average person to conceive of how... by dpark on Monday January 10, 2022 @02:10PM (#29880011)

Okay, so we’re back to it’s valuable because some people are gullible. This is not particularly compelling. Yeah, from a money grabbing, no ethics wanted standpoint, that is a compelling argument that it will make money. It is not a compelling argument that it actually provides meaningful value to anyone except the ones perpetuating the scam, though. A Ponzi scheme is also profitable.

It is interesting that NFT royalties are thing. I was not aware of that. Although I don’t see that this makes it valuable. Royalties are generally paid for reproduction. If you have to pay the creator to transfer the token, then it seems evident that you don’t even own the token, whatever that’s worth.

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Re:It is difficult for the average person to conceive of how... by alkonaut on Monday January 10, 2022 @03:06PM (#29881286)

Yeah to be absolutely clear: I believe there is value here only in the sense that there is value at the top of any Ponzi scheme (value for early investors) or at best - a lottery or volatile instrument (value only for lucky investors). And this is the reason I think that it will happen in some spaces such as gaming.

I don’t think it’s something that has or adds any value from a technical viewpoint. At least not to the point where it would warrant investment or overhead from blockchain tech. It’s hardly worth even $1 “securing” my ownership of a hat on a public ledger unless the chance of it becoming more expensive through artificial scarcity is counted as “value”.

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