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Post by Springer on Jun 29, 2021 22:20:52 GMT -5
Lowry just dropped some limited NFTs:
Has anyone here bought any NFTs before or thinking of/are buying one of Lowry's?
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Post by sandman on Jun 30, 2021 8:12:03 GMT -5
I don't understand NFT's.
Like, why?
But then again I'm sure 30 years ago, people didn't understand video games and why..
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Post by freewheel on Jun 30, 2021 11:52:51 GMT -5
But then again I'm sure 30 years ago, people didn't understand video games and why.. Naw. When I fired up Pong for the first time in the 70s (no joke) it was fun. Are NFTs fun? |
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Post by zugzwang on Jun 30, 2021 13:29:07 GMT -5
I think NFT's are like art.
If people value them, they will have value. A lot of people don't value art.
It's inherently weird that you would pay money for a clip that you can watch for free anytime on YouTube. But for some, there's something special about owning the digital rights to that clip.
I read an interview with Daryl Morey in which he discusses NFT's. His theory is many NFT's will go on to be garbage while a unique few will really transcend and have high value. (Kinda like art.)
Regardless, I think it's cool that it provides another unique way for the players to build their brands with fans directly and make bank. Overtime it could subtly shape the way players approach things like ring chasing and team loyalty.
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Post by Pseudonym on Jun 30, 2021 17:58:06 GMT -5
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Post by zugzwang on Jun 30, 2021 20:01:12 GMT -5
Correct me, but I don't think the energy-usage problem is at all inherent to NFT's themselves. It's a function of the blockchain performing the transaction - the sale and the record of ownership. That's a knock on bitcoin and ethereum 1.0.
There's already more than one tech solution available. They just need adoption. There's a blockchain called Nano, for example, which has zero-emission mining, if for no other reason than it no longer has any. And it can run all of its entire network, world-wide, at 7,000 transactions per second for the energy cost of a single wind turbine.
I think the article you have linked gets around to identifying the real culprit in its final paragraphs.
What the article didn't cover, because it was outside it's scope, is that Basketball-related NFT's are sold on Top Shot, which operates on the Flow blockchain which is a proof of stake model. That's the model the environmentally conscious artists in the article are hoping to have adopted. I have to concede though it may be possible for someone to buy a basketball NFT and transport it over to a different blockchain.
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Post by Springer on Jun 30, 2021 23:35:04 GMT -5
The "value" can change drastically from one day to the next. I think thye can be so risky in early going as nobody knows whats going on with them.
NBA Topshots i can see the attraction to, as they are basically virtual trading cards, or "moments" as they call them. I actually have a few Raptor ones. Some of them are limited, some are common and have unlimited mintage. It's also a way to have some dodgy transactions on the market place: A FVV common limited "moment" sold for $140,000, when you could of bought it for $6!
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Post by Pseudonym on Jul 1, 2021 1:28:17 GMT -5
Correct me, but I don't think the energy-usage problem is at all inherent to NFT's themselves. It's a function of the blockchain performing the transaction - the sale and the record of ownership. That's a knock on bitcoin and ethereum 1.0. There's already more than one tech solution available. They just need adoption. There's a blockchain called Nano, for example, which has zero-emission mining, if for no other reason than it no longer has any. And it can run all of its entire network, world-wide, at 7,000 transactions per second for the energy cost of a single wind turbine. I think the article you have linked gets around to identifying the real culprit in its final paragraphs. What the article didn't cover, because it was outside it's scope, is that Basketball-related NFT's are sold on Top Shot, which operates on the Flow blockchain which is a proof of stake model. That's the model the environmentally conscious artists in the article are hoping to have adopted. I have to concede though it may be possible for someone to buy a basketball NFT and transport it over to a different blockchain. You're right, the energy needed to create them and cryptocurrency in general can be drastically lessened. But that won't be for awhile, and we apparently don't have that much time left; the damage being done/energy being used for NFTs, especially as they gain more popularity is significant. I ain't saying that to be all doom/gloom. Just more like a casual musing. I'm reading One Piece, the most popular manga in the world, but I wonder how many trees have been cut down to print and distribute it... This Web 3.0 stuff is really about artists regaining ownership over their works and not getting grifted by labels, publishers, platforms, etc. I ain't mad at it. |
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