[shiado]

Has anybody ever thought of something like a real world NFT? Imagine if you took a bunch of dried plant pigments and mixed them with oil and smeared them onto a canvas. Because it is physical it couldn't be duplicated or double-spent and it has a simple materials-based minting cost. I don't think anybody has done this before and there is probably a large market for buying and selling something like this. These are early days.

[Zambyte]

This is not a good metaphor for NFTs. The content of any NFT can be perfectly duplicated by anyone. The only part of an NFT that matters is the signature. A better analogy would be musicians signing CDs / vinyls, sports players signing player cards / equipment, etc.

People buying NFTs created by nobodies are simply getting scammed. The physical metaphor here would be like paying a random amateur sports player to sign some equipment.

[yucky]

I don't think this is the case with unlockable NFT's, is it? You can copy the "box" so to speak, but you can't see what's inside if you don't own it.

[Zambyte]

I have not followed NFTs like this very closely, but my understanding of them is this:

* There is some contract that generates NFTs under some condition (this is the box you mentioned)

* When the condition is met to create a new NFT, it creates one using VRF data, similar to how is described here: https://blog.coincodecap.com/how-to-generate-random-numbers-...

Anyone can make an NFT and stuff the same random number(s) into it that the contract received from the VRF. The difference is in who made thr NFT. Most people wouldn't find an NFT interesting if it's just a random number, made by a random person. An NFT which was produced by a smart contract might be exactly the same, but it is more interesting because some (usually centralized) game or service uses that random number to represent something else. That game or service is only interested in NFTs created by their smart contract.

[kurthr]

Yeah, but it could be a completely unique painting of a QR-code of the NFT... That way you couldn't just replicate the NFT on another chain!

[gcampos]

I got you fam: https://github.com/william-fields/witless#ntf-support

[rfd4sgmk8u]

I like where the developer leaked the private key of the signing authority:

https://github.com/william-fields/witless/commit/dc4a429b721...

The problems with this 'witless' proposal is that we have no way of auditing the supply, and politicians will betray the trust of the users by debasing it. Also, we have no trust anchor with the 'official witless key', which presumably should be considered compromised in the above commit. It also seems to depend on the file hosting services of a large software company for distribution of its public keys.

The problem with these straw man arguments is they often miss the entire point of the technology, and folks read them and walk away without understand exactly the problems the parodied technology solves.

This does have some humorous points, but generally leaves the reader with a confused and incorrect view of how both the USD and cryptocurrencies work.

[gcampos]

Check the name in the private key ;)

[rfd4sgmk8u]

Ok, yeah I did think it was part of the joke.

Still tho, what is the point of this page? Is it trying to say 'you dont need a blockchain?' or 'this is a deliberately bad solution that is solved by a blockchain'?

[Izkata]

"People will buy anything when you combine buzzwords with acronyms" ?

[gcampos]

The page was meant more to be a practical joke and less criticism to anything or anyone.

[kingcharles]

Thanks, bestie

[canarypilot]

Next you will want a building in which to keep these objects, which will of course need heating and lighting (need I even start to compute the power cost…) and will take up real estate that could otherwise be used for apartments where people could literally LIVE!

You’ve also failed to account for right clickers (so named for the click of a camera shutter, normally triggered by a button to the right of the camera) who can simply take a picture of your object and trade it as they like… This will surely reduce the value of any one of your works to zero!

(In all seriousness, NFT’s gotta be stopped!)

[throw_nbvc1234]

This must explain the resurgence of Vinyl records; gotta have a physical music collection.

[mitchdoogle]

Creating physical art when it can be done digitally is a waste of resources

[tata71]

ngmi