Guest neesy111 Posted May 17, 2022 Share Posted May 17, 2022 (edited) In theory they are a good idea but it's so full of flaws. The biggest issue is your handling off that token to a 3rd party, at least if I bought a painting or anything physical I would have complete ownership of that and be able to keep it wherever I wanted. They you have issues of linking it to Crypto (the climate change aspect), what happens when a NFT marketplace goes bankrupt or is hacked, the blockchain it's hosted on closes (these are all issues with digital assets, see games). Edited May 17, 2022 by neesy111 Link to post Share on other sites More sharing options...
OpenC Posted May 17, 2022 Share Posted May 17, 2022 (edited) I just can't get past the Solution In Search Of A Problem definition. It's perfect. I don't suppose I'll ever be able to see this as just a way to monetize absolutely fucking anything, even things that don't exist, and if folk are cool with that and want to spunk money away on literally absolutely nothing then fair enough one day people will realise that it's literally absolutely nothing and some folk will be holding the bag I might try to convince somebody that I'm in a position to sell the rights to the number 10, see if I can get somebody to buy it. Or the colour puce, maybe. Edited May 17, 2022 by OpenC Link to post Share on other sites More sharing options...
GeordieDazzler Posted May 17, 2022 Share Posted May 17, 2022 It’s speculation for the sake of speculation. The images or art are just a proxy for this. Some may well be made in good faith but the majority aren’t. As with anything like this, once the hype kicks in it’s a race to the bottom. Blockchain may well have it’s uses but it’s an energy drain on a world that can ill afford it. It’s not a ‘decentralised money revolution’ as with everything it just recentralises around those with the capital to exploit it. It’s hard to have a sincere discussion with NFT enthusiasts as they will always have a vested interest in it being a positive thing. The value is in hype and speculation. Link to post Share on other sites More sharing options...
OpenC Posted May 17, 2022 Share Posted May 17, 2022 Aye, basically that Link to post Share on other sites More sharing options...
Guest neesy111 Posted May 17, 2022 Share Posted May 17, 2022 (edited) Yeap, blockchain's proof of work is a ridiculous concept that just wastes energy. The last thing we fucking need in the world right now, banning crypto mining would go a long way in some countries to reduce energy consumption. Proof of stake is better, but that really only works in certain circumstances and on very small scale. Edited May 17, 2022 by neesy111 Link to post Share on other sites More sharing options...
midds Posted May 17, 2022 Share Posted May 17, 2022 Watched the video and get the point the lass was making. The whole point was owning the original (Warhol drawing) had some kind of credence despite hundreds of other identical copies being made. The owner of the original knows they have the first one and that's worth something to them. I understand it but I can safely say I'll not be getting involved with any of it whatsoever Each to their own though, sure some are bang into it and will make, or lose, a relative fortune when they start getting traded. Link to post Share on other sites More sharing options...
Pata Posted May 17, 2022 Share Posted May 17, 2022 7 minutes ago, neesy111 said: In theory they are a good idea but it's so full of flaws. The biggest issue is your handling off that token to a 3rd party, at least if I bought a painting or anything physical I would have complete ownership of that and be able to keep it wherever I wanted. They you have issues of linking it to Crypto (the climate change aspect), what happens when a NFT marketplace goes bankrupt or is hacked, the blockchain it's hosted on closes (these are all issues with digital assets, see games). Crypto as a whole isn't bad for climate. Proof-of-work needs a lot of energy but after Ethereum moves to Proof-of-Stake in the next 12 months Bitcoin is the only big one that uses PoW. And Bitcoin won't have any NFTs as it wasn't made to be used like that. Also the point of decentralization is that no one can pull the plug or the company behind the blockchain can't go bankrupt. I still think the talk about NFTs revolves too much around those stupid monkey jpeg's when it's only the first use case of a new technology. Link to post Share on other sites More sharing options...
Jackie Broon Posted May 17, 2022 Share Posted May 17, 2022 Essentially they're just the same a crypto currency but with value linked to the demand for the individual NFT rather than the demand for the whole currency, the images are just a identifier. Ultimately, the value is just what people are willing to pay for something that has no inherent value. People only value them because other people might value them higher. But really that is just a transfer of money from one person to another with no real value. Essentially all money is only a token of exchange for work. If £10 sits in someone's pocket for a year it has produced no work in that time, if it is exchanged every day it produces thousands of pounds of work. real value only comes when there is circulation of currency that results in some kind of transfer of goods or services. Link to post Share on other sites More sharing options...
Pata Posted May 17, 2022 Share Posted May 17, 2022 https://www.hongkiat.com/blog/nft-use-cases/ This is the first link from google for potential NFT use cases and it goes far deeper than just digital art. Link to post Share on other sites More sharing options...
David Edgar Posted May 17, 2022 Share Posted May 17, 2022 (edited) 17 minutes ago, midds said: Watched the video and get the point the lass was making. The whole point was owning the original (Warhol drawing) had some kind of credence despite hundreds of other identical copies being made. The owner of the original knows they have the first one and that's worth something to them. I understand it but I can safely say I'll not be getting involved with any of it whatsoever Each to their own though, sure some are bang into it and will make, or lose, a relative fortune when they start getting traded. But the original Warhol is absolutely unique. And has been physically copied. Those copies as hard as they've tried cannot be identical. But a copy of a digitally created piece of art can be pixel for pixel identical. There is no original single copy that is unique. So a little thought and that premise is dismissed as well. Edited May 17, 2022 by David Edgar Link to post Share on other sites More sharing options...
midds Posted May 17, 2022 Share Posted May 17, 2022 1 minute ago, David Edgar said: But the original Warhol is absolutely unique. And has been physically copied. Those copies as hard as they've tried cannot be identical. But a copy of a digitally creates piece of art can be pixel for pixel identical. There is no original single copy that is unique. Absolutely, I get that. It's pixel perfect and there's no distinguishing between original and copy to the layman as they're identical. The only person who gives it worth/value is the person who bought the first one but it's only worth something to them from a personal point of view. I get the concept and I'll let people just get on with it tbh. I'll never need to worry about it Link to post Share on other sites More sharing options...
David Edgar Posted May 17, 2022 Share Posted May 17, 2022 (edited) If anything, that Warhol thing is counter to their argument. The copying of the original literally devalued it But the second someone finds a way to confirm the original, it'll have its value restored for other people... That can't happen with a digital piece of art. Edited May 17, 2022 by David Edgar Link to post Share on other sites More sharing options...
midds Posted May 17, 2022 Share Posted May 17, 2022 3 minutes ago, David Edgar said: If anything, that Warhol thing is counter to their argument. The copying of the original literally devalued it To everyone apart from the person who still values the original. Totally agree Link to post Share on other sites More sharing options...
Jaqen Posted May 17, 2022 Share Posted May 17, 2022 The 'value' is in the ownership on the Blockchain and whatever someone will pay for it. Pretty much one person buying it and hoping they can sucker somebody else into paying more for it until there's one sucker left who can't sell it and is down loads of money. It's an easily manipulated market and very volatile. Create some fake transactions to show they are selling for a stupid amount of money, get a few celebrities or influencers on board and create a load of hype. Buy into it and now you realise your investment is down 90% in a few weeks because there's not actually any real demand for a John Terry Ape. Link to post Share on other sites More sharing options...
Guest neesy111 Posted May 17, 2022 Share Posted May 17, 2022 49 minutes ago, Pata said: https://www.hongkiat.com/blog/nft-use-cases/ This is the first link from google for potential NFT use cases and it goes far deeper than just digital art. In theory these are good use cases but I can't see most of them being adopted for practicality purposes. I think NFTs will end up being proof of stake for membership type schemes. Link to post Share on other sites More sharing options...
David Edgar Posted May 18, 2022 Share Posted May 18, 2022 6 hours ago, Jaqen said: The 'value' is in the ownership on the Blockchain and whatever someone will pay for it. Pretty much one person buying it and hoping they can sucker somebody else into paying more for it until there's one sucker left who can't sell it and is down loads of money. Link to post Share on other sites More sharing options...
thomas Posted June 6, 2022 Share Posted June 6, 2022 Crypto token hyped by Inter Milan and Croatia players fell by 98% – ‘Everything turned to dust’ https://theathletic.com/3335623/2022/06/06/crypto-token-croatia-inter-milan/ petition to rename thread "The Football Pyramid Scheme" Link to post Share on other sites More sharing options...
David Edgar Posted June 7, 2022 Share Posted June 7, 2022 Is this now the Sunderland thread? Link to post Share on other sites More sharing options...
SteV Posted June 9, 2022 Share Posted June 9, 2022 Absolutely no-one saw this coming… https://www.bbc.co.uk/sport/football/61751366 Link to post Share on other sites More sharing options...
SteV Posted August 2, 2022 Share Posted August 2, 2022 ??♂️??♂️ https://www.evertonfc.com/news/2706026 Link to post Share on other sites More sharing options...
gbandit Posted August 2, 2022 Share Posted August 2, 2022 Good, another reason to want Everton to get relegated Link to post Share on other sites More sharing options...
alexcarry Posted October 3, 2023 Share Posted October 3, 2023 Digital solutions are reshaping the football industry through the integration of crypto, NFTs, and fan tokens. Clubs are leveraging blockchain technology to offer fans unique NFT collectibles and tokens, enhancing fan engagement and monetization strategies. This innovative approach not only revolutionizes fan experiences but also creates new revenue streams for football organizations, marking a significant shift in the sports business landscape. Link to post Share on other sites More sharing options...
r0cafella Posted October 3, 2023 Share Posted October 3, 2023 Just now, alexcarry said: Digital transformation solutions are reshaping the football industry through the integration of crypto, NFTs, and fan tokens. Clubs are leveraging blockchain technology to offer fans unique NFT collectibles and tokens, enhancing fan engagement and monetization strategies. This innovative approach not only revolutionizes fan experiences but also creates new revenue streams for football organizations, marking a significant shift in the sports business landscape. Link to post Share on other sites More sharing options...
Disco Posted October 3, 2023 Share Posted October 3, 2023 3 minutes ago, alexcarry said: Digital transformation solutions are reshaping the football industry through the integration of crypto, NFTs, and fan tokens. Clubs are leveraging blockchain technology to offer fans unique NFT collectibles and tokens, enhancing fan engagement and monetization strategies. This innovative approach not only revolutionizes fan experiences but also creates new revenue streams for football organizations, marking a significant shift in the sports business landscape. Carry on up the grift Link to post Share on other sites More sharing options...
SteV Posted October 3, 2023 Share Posted October 3, 2023 5 minutes ago, alexcarry said: Digital transformation solutions are reshaping the football industry through the integration of crypto, NFTs, and fan tokens. Clubs are leveraging blockchain technology to offer fans unique NFT collectibles and tokens, enhancing fan engagement and monetization strategies. This innovative approach not only revolutionizes fan experiences but also creates new revenue streams for football organizations, marking a significant shift in the sports business landscape. Do you sell magic beans as well? Link to post Share on other sites More sharing options...
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