geekhack Community > Other Geeky Stuff

WTF are NFT's?

(1/4) > >>

noisyturtle:
I have read so many articles going over the same exact info, and I get what an NFT is, but what is the actual function of an NFT? What does the owner use it for? I don't understand what the buyer is paying for.
ex. BTC is a currency, you use it in exchange for goods and services, what function does the NFT give the owner?

fohat.digs:
Create a work of art and post it online and it will be downloaded and distributed everywhere, instantly, for free. Maybe you only posted a low-resolution version, but whateves.

Sell "x" number of them to collectors for real money, and will they turn around and post them for free? Of course not.

noisyturtle:

--- Quote from: fohat.digs on Thu, 11 March 2021, 21:43:37 ---Create a work of art and post it online and it will be downloaded and distributed everywhere, instantly, for free. Maybe you only posted a low-resolution version, but whateves.

Sell "x" number of them to collectors for real money, and will they turn around and post them for free? Of course not.


--- End quote ---

so overpriced Shutterstock images?

Leslieann:
Non-fungible token, it's basically blockchain being used to limit the sales of digital art.

Personally, I think the whole idea is pretty f'ing stupid, someone just spent millions on a peice of digital artwork. It's DIGITAL, Oh you have the authentication code, well then!  No disrespect to digital artists, you do great work, but this is just dumb. Blah blah blockchain. I'm a computer tech, don't tell me something digital can't be pirated/cracked/copied, it's only a mater of when and how.

yui:
also not to disrespect artist but a piece of digital art can be sold a theoretically infinite number of time, at no extra cost to the seller, while physical art can only be unique, or very close to it, i just fell like limiting something digital to a number of copy is rather pointless...

Navigation

[0] Message Index

[#] Next page