Do you own NFTs?

Do you own NFTs?

  • Yes

    Votes: 22 6.8%

  • No

    Votes: 260 80.7%

  • I am looking into it

    Votes: 31 9.6%

  • Other

    Votes: 9 2.8%
  • Total voters
    322
eg2505 said:
just like those playing cards, wait till the Chinese start going all out on NFT's,
market will be flooded with similar looking NFT's with one tiny microscopic pixel changed, and it looks identical.

to me I dont see the value in any of this, as what exactly do you pay for?
nothing except promises and dreams.

A classic Car is useful, a Wine can be Drunk, Art can be presented and stored.
but NFT's what is the utility in them?
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You are completely failing to understand the concept.

It doesn’t matter that someone is selling a similar looking copy.

The only ones that would have value are the ones minted by the original creator Wizards of the Coast in a single specific numbered run of limited quantity.

Unlike ever before this uniqueness will now be verifiable and therefore hold actual value.

Same goes for artists making original digital art now.

NFT’s bring real rarity and value to digital assets unlike ever before.

Take books. You could always copy them, even in their physical form, nothing about the ability to copy things is new.

Thing is with books you had first print runs that were unique for being first runs, often because they had mistakes in etc.

Ebooks came along and that wasn’t possible. More so they were ever changing and could be updated and fixed over time.

Now comes an NFT and you could do the same thing with digital copies as you could with physical ones since way back when. There can be limited edition runs in their original form that have a growing value attached. It doesn’t matter that there are millions of copies of the same book sold later, the first run is still unique.

For the first time digital has a collectibility factor which was always unique to physical products only.

What exactly do you pay for with rare books? The words on the page are after all the same as every other copy of the same book. Why buy it at all when you could just have the ebook?
 
SauRoNZA said:
You are completely failing to understand the concept.

It doesn’t matter that someone is selling a similar looking copy.

The only ones that would have value are the ones minted by the original creator Wizards of the Coast in a single specific numbered run of limited quantity.

Unlike ever before this uniqueness will now be verifiable and therefore hold actual value.

Same goes for artists making original digital art now.

NFT’s bring real rarity and value to digital assets unlike ever before.

Take books. You could always copy them, even in their physical form, nothing about the ability to copy things is new.

Thing is with books you had first print runs that were unique for being first runs, often because they had mistakes in etc.

Ebooks came along and that wasn’t possible. More so they were ever changing and could be updated and fixed over time.

Now comes an NFT and you could do the same thing with digital copies as you could with physical ones since way back when. There can be limited edition runs in their original form that have a growing value attached. It doesn’t matter that there are millions of copies of the same book sold later, the first run is still unique.

For the first time digital has a collectibility factor which was always unique to physical products only.

What exactly do you pay for with rare books? The words on the page are after all the same as every other copy of the same book. Why buy it at all when you could just have the ebook?
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so the value is in its rarity and immutability? okay I get that
still seems like a fad, as how do you know the fake versions that look exactly the same with 1 pixel changed, dont suddenly become popular?

I mean its all subjective really, as even in the art world there are copies BETTER than the originals.
 
eg2505 said:
so the value is in its rarity and immutability? okay I get that
still seems like a fad, as how do you know the fake versions that look exactly the same with 1 pixel changed, dont suddenly become popular?

I mean its all subjective really, as even in the art world there are copies BETTER than the originals.
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Simply because you can verify it’s authenticity.

Also in something like MTG it could mean that only people with the original cards can actually play them, much like in an actual MTG competition you can’t show up with copied cards.

I’m sure there would be a market for copies to be “popular” but they wouldn’t hold any value.

Nice thing with digital things like these is also that they can’t be lost. Your house burns down etc it’s not a problem.

And even by the art world concept there may be objectively better works of the same thing, but they’ll never hold the same value as the originals.
 
SauRoNZA said:
Simply because you can verify it’s authenticity.

Also in something like MTG it could mean that only people with the original cards can actually play them, much like in an actual MTG competition you can’t show up with copied cards.

I’m sure there would be a market for copies to be “popular” but they wouldn’t hold any value.

Nice thing with digital things like these is also that they can’t be lost. Your house burns down etc it’s not a problem.
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still seems like a fad, that will fade away as soon as the market get flooded with copies that to the uninitiated look exactly the same.
I mean yes, the originals will be worth something to those interested in those kind of things,

but to the average joe who takes out a months salary, and buys an NFT, subjected to the ebb and flow of the market.
how can an investment in NFT pay off?
 
eg2505 said:
still seems like a fad, that will fade away as soon as the market get flooded with copies that to the uninitiated look exactly the same.
I mean yes, the originals will be worth something to those interested in those kind of things,

but to the average joe who takes out a months salary, and buys an NFT, subjected to the ebb and flow of the market.
how can an investment in NFT pay off?
Click to expand...

Anyone doing that is an idiot.

It will be purely for people with an inherent interest in the value of these things.

Just like the physical markets that came before when it came to collectors. Average Joe couldn’t care less.
 
SauRoNZA said:
Anyone doing that is an idiot.

It will be purely for people with an inherent interest in the value of these things.

Just like the physical markets that came before when it came to collectors. Average Joe couldn’t care less.
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guess your right, just like Comic book collectors, or those interested in rare cars,
beauty is in the eye of the beholder, this is just another fad, that some will see the value in, and others not.
 
eg2505 said:
guess your right, just like Comic book collectors, or those interested in rare cars,
beauty is in the eye of the beholder, this is just another fad, that some will see the value in, and others not.
Click to expand...

Comic Books are actually a great application and example for NFTs as they can be digitised quite happily without any compromise in content.
 
Digital collectibles make sense in a scenario where you can only enter through proof of ownership. So I agree that it could be used for gaming like MTG.. Although there already is a whole MTG online setup with trading in existence. What do NFTs add that Wizards hasn't already achieved with their current platform?

The art is not actually even that interesting as a use case. I feel the proof of ownership is interesting to use for access to a community. Again, at this stage I don't see how it is better than a QR code or whatever from the organizers except that you can easily trade the NFT ownership vs requiring someone to update your details in a centralized database.

Perhaps BAYC will still surprise us and we'll all switch to their Metaverse and their big name sponsors, but I feel like the BAYC owners are getting a raw deal in this arrangement...
 
SauRoNZA said:
Now comes an NFT and you could do the same thing with digital copies as you could with physical ones since way back when.
Click to expand...
Not really. Many (probably most) of the NFTs encode URLs i.e. pointers to digital assets that are hosted externally or are dependent on third-party support. The host of the actual asset could vanish for a multitude of reasons, including unprofitability. The blockchain could cease to exist or lose consensus if the miners abscond for one of the thousands of other coins. Etc.
 
hj007 said:
Digital collectibles make sense in a scenario where you can only enter through proof of ownership. So I agree that it could be used for gaming like MTG.. Although there already is a whole MTG online setup with trading in existence. What do NFTs add that Wizards hasn't already achieved with their current platform?

The art is not actually even that interesting as a use case. I feel the proof of ownership is interesting to use for access to a community. Again, at this stage I don't see how it is better than a QR code or whatever from the organizers except that you can easily trade the NFT ownership vs requiring someone to update your details in a centralized database.

Perhaps BAYC will still surprise us and we'll all switch to their Metaverse and their big name sponsors, but I feel like the BAYC owners are getting a raw deal in this arrangement...
Click to expand...

Which current platform do you refer to?

And oddly after this chat today I discovered Wizards is actually working on exactly this.

www.pcgamer.com

Unofficial Magic: The Gathering NFT project interrupted as WotC summon lawyers

WotC said it's currently looking at Magic-based NFT options of its own.
www.pcgamer.com www.pcgamer.com
 
This is slightly off topic but here is a good interview on Bitcoin's merits from Micheal Saylor today
. Point is lots of people dismiss bitcoin without actually understanding it exactly the same with NFTs. Yeah it might be a bubble but it might not be. There is a good book by Adam Grant called Think Again people are so obsessed with their opinion and have problems changing it... Blackberry is a great example, I am not saying NFTs are the next Apple but at-least give them a shot they are way more than stupid pictures
 
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