LogFAQs > #959870980

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Topic	more NFT stupidity to laugh at
Sad_Face 11/10/21 1:31:08 PM #45:	warlock7735 posted... Most of the issues with fungibility you're referencing are due to bad API design and event sourcing - to use your example of gamerscore- it's 100% fine if the individual points of your gamerscore are fungible. All's you need is an endpoint to get info about the events which are associated with X game. Likewise, who cares about the existence of an airline ticket, what you care about is the history of transaction events associated with an individual ticket. There's a decent amount of issues with that, but I promise you that NFTs are a solution looking for a problem, and most of the problem spaces being proposed have no benefit from non-fungibility. Trophies can be replaced with regular tokens, sure. But things like an Amiibo, if they were to recreate it for blockchain tech, it would need to be an NFT. You want an NFT over a regular token for airplane tickets because then you could specify other constraints on the token. Instead creating different ERC-20 tokens for Coach, Economy, 1st Class, etc etc, you can have a single NFT that specifies what class you are in along with other data like destination + arrival time (I dunno if you really want this kind of info on the blockchain, but it could go on a permissioned and private blockchain). The biggest boon of moving to an NFT, is that if you move to the current industry standards, an entire world of new use cases open up to you thanks to cross chain interoperability protocols. A steam competitor could issue game licenses as NFTs, which would allow players to sell and trade games but you can offer incentives and specify parameters based on on how many addresses the NFT touched to incentivize buying a game new instead of buying second hand. On top of that, you could create a marketplace that pays the original creator a percentage fee for each sale of the NFT to allow creators to capitalize on the secondhand market. This already exists on Opensea.io for their art NFTs and sales on their platform. Videogames and NFTs go hand in hand but in general NFTs are the evolution of assets the internet needs. It's a fool's errand to disregard its potential. --- https://imgur.com/WmIB016 https://imgur.com/53FGj6K <cite>Sad_Face posted [p:959870980] in more NFT s... [t:79751076]...</cite> <quote>warlock7735 posted... </cite> <quote>Most of the issues with fungibility you're referencing are due to bad API design and event sourcing - to use your example of gamerscore- it's 100% fine if the individual points of your gamerscore are fungible. All's you need is an endpoint to get info about the events which are associated with X game. Likewise, who cares about the existence of an airline ticket, what you care about is the history of transaction events associated with an individual ticket. There's a decent amount of issues with that, but I promise you that NFTs are a solution looking for a problem, and most of the problem spaces being proposed have no benefit from non-fungibility.</quote> Trophies can be replaced with regular tokens, sure. But things like an Amiibo, if they were to recreate it for blockchain tech, it would need to be an NFT. You want an NFT over a regular token for airplane tickets because then you could specify other constraints on the token. Instead creating different ERC-20 tokens for Coach, Economy, 1st Class, etc etc, you can have a single NFT that specifies what class you are in along with other data like destination + arrival time (I dunno if you really want this kind of info on the blockchain, but it could go on a permissioned and private blockchain). The biggest boon of moving to an NFT, is that if you move to the current industry standards, an entire world of new use cases open up to you thanks to cross chain interoperability protocols. A steam competitor could issue game licenses as NFTs, which would allow players to sell and trade games but you can offer incentives and specify parameters based on on how many addresses the NFT touched to incentivize buying a game new instead of buying second hand. On top of that, you could create a marketplace that pays the original creator a percentage fee for each sale of the NFT to allow creators to capitalize on the secondhand market. This already exists on Opensea.io for their art NFTs and sales on their platform. Videogames and NFTs go hand in hand but in general NFTs are the evolution of assets the internet needs. It's a fool's errand to disregard its potential. --- https://imgur.com/WmIB016 https://imgur.com/53FGj6K</quote> ... Copied to Clipboard!
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