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Re:Web3 is centralized and inefficient by koonsolo on Wednesday March 23, 2022 @04:55AM (#30776430)
So Shaquille O’Neal bought this Bored Ape NFT: https://opensea.io/assets/0x60e4d786628fea6478f785a6d7e70477...

Are you claiming that this NFT, which everybody knows passed the hands of Shaq, will be worthless in the future?

Bored Ape is kind of like the art of Andy Warhol. Yes, the creators of bored ape made a lot of money, but so did Andy Warhol. Is there anything wrong with that?

If you want to call that all a scam, that's fine. But somehow calling Bored Ape a scam and Warhol art not, is weird. Warhol also had plenty of critics.

If you don't like NFT's that fine, no problem with that. But maybe you could at least try to understand why some people want to spend money on that. And not "because they are a gullible audience".

Re:Web3 is centralized and inefficient by dfabulich on Wednesday March 23, 2022 @05:09AM (#30776523)
> Are you claiming that this NFT, which everybody knows passed the hands of Shaq, will be worthless in the future?

In this case, absolutely. https://checkmynft.com/?address=0x60e4d786628fea6478f785a6d7... ("Asset Strength: Poor")

The NFT is a simple link to an URL hosted at boredapeyachtclub.com. Even if the owner backs up the image on IPFS, the NFT won't point to the IPFS backup; the NFT will always immutably point to BAYC's website.

Inevitably, BAYC will go down, and when it does, the NFT will be a receipt pointing to nothing.

("But it's a receipt to nothing that Shaq once held!" … yeahhh, sure.)

Re:Web3 is centralized and inefficient by trumpablehump on Wednesday March 23, 2022 @05:03AM (#30776479)
> Are you claiming that this NFT, which everybody knows passed the hands of Shaq, will be worthless in the future?

That's very likely, yes. It's just some digital trading card that he once owned. It's nothing in comparison to an artifact like a shirt from a game or even an autograph. And what are those worth? Much much less than what this URL was passed around for between rich crypto wash pumping bros.