[vbezhenar]

NFT is low tech scam. I'm surprised so much money were attracted. Must be very good marketing campaign.

[arcticbull]

Lots of wash trading to bid up prices and create the impression of enthusiasm. Drags in the suckers. Like Logan Paul and his 99.9% loss on a $600,000 investment. He is the biggest fool. [1] But hey, he was in it for the tech/art right? He's still got the weird yellow robot bee thing.

[1] https://twitter.com/coffeebreak_YT/status/145670132936840397...

[LurkingPenguin]

The best scams are usually low tech or even no tech.

[can16358p]

The idea of NFT is not scam, but the current scene is more like it. Not exactly like scam but more like a super-hyped balloon.

[vbezhenar]

I'd expect better technical foundation to sell something so expensive. Like guaranteed formats, guarantees for storing hashes, unique guarantees, some kind of image perceptual hash, some kind of P2P distributed storage for data itself. So even non-technical buyer can be sure that goods he bought are protected. Right now you need to ensure that NFT data is stored on IPFS, you need to ensure that IPFS data including that JSON file will not disappear, you need to check blockchain to prevent multiple sells (and you can't prevent someone to sell dupes in the future).

Right now NFT seems like few bytes pretending to be some kind of URL and that's about it.

[can16358p]

Sure, I agree with your technical foundation views.

What I meant is that the basic idea of NFTs is promising, but the current implementation is nothing practical.

[Kiro]

None of that matters. What gives NFT its value is that it was minted by X. It's purely a social contract so it doesn't need any technical foundation.