LogFAQs > #961483327

GuessMyUserName posted...

this sort of manufactured scarcity is absolutely horrifying

So physical things are cool because they are unique and rare.

But digital things can also be made to be unique and rare, and that's 'absolutely horrifying'?

Am I describing it wrong? Participation is not mandatory. It's an option for people who want that experience.

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ChaosTonyV4 posted...

That sounds awful to me, Roblox is like that and kids lose their parents rent money like every week.

Not sure how this relates to NFTs. Parents should have safeguards against their children making payments. Kids should be made to understand the concept of currency. And honestly? Kids should not be playing Roblox, it does not seem like a kid-friendly experience.

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HeroDelTiempo17 posted...

I can already point to games and platforms that do this without crypto. Steam marketplace. MTGO and tix. Roblox. What does the crypto actually do besides provide investment from venture capital?

Crypto adds a veneer of security and finality that a game or company by itself cannot provide.

I agree that similar experiences already exist and seem to function just fine without needed to involve blockchain technology.

But if you are using an environmentally friendly blockchain the argument that you are "doing the same thing, only ruining the environment too" stops holding water.

Bitcoin uses 96 terawatt hours / year
Ethereum uses 26 terawatt hours / year
Tezos uses 0.001 terwatt hours / year

Two of these things require energy consumption on par with entire countries. One of those two is going to be changing (supposedly this year). But there are other options that are equally secure from a verification standpoint with negligible carbon footprint.

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PrivateBiscuit1 posted...

And the widespread shortage of video cards make literally everything harder on everyone else in every industry that needs a decent video card, be it just casual gaming with a good PC to literally digital artists.

Proof of Stake fixes this.

This is also why as entrenched as Bitcoin is becoming in institutions, it needs to be transitioned away from. BTC will never be PoS, and some of the things BTC did right did a lot of good to advance crypto as a whole, but at some point that needs to be addressed. In either case that is a problem with BTC, not NFT.

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NFUN posted...

Whatever the media, they're created as a product first, then made into an NFT to inflate the price grossly (which is particularly egregious when it exists already and it's being made into one well after the fact). It's the difference between commissioning artwork or buying a print you found that you like.

Again I'd direct you to Candy Digital. Their MLB Icon NFTs are digital assets created specifically to be used as NFTs. They released 25,000 packs with 3 NFTs per pack of five varying rarities. They combined video clips and graphics and sound effects to create a pretty slick looking NFT and the high rarities were more detailed with additional features. That is miles beyond the Topps approach of "take the picture of our baseball card and make an NFT of the same static image that we print on the cards".

Candy also did a run of "Suite Futures - Football" NFTs last year where they selected 22 up and coming college football players and did a release of NFTs for them. These NFTs were not as elaborate as the MLB ones described above, but were still more than just a static image. Now that college football players are allowed to monetize from and benefit from their likeness, this was a positive thing for those 22 players.