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NFTs (Non-Fungible Tokens)

Full Trucker

Frikkin newb!!!
Feb 26, 2003
8,502
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So this is a thing... owning something digital (like a Tweet, or a piece of digital art) that has no physical entity associated with it. Blockchain tech, could be even more energy consumptive than blockchain currency due to each NFT being unique whereas all Bitcoins are clones. Honestly, I don't fully understand all of it. But what a time to be alive... you can own something that doesn't exist in the physical world.


Wacky.
 

Westy

the teste
Nov 22, 2002
45,632
11,248
Sleazattle
This has been mentioned elsewhere. Just tech bros trying to find ways to create cash out of something with no inherent value by restricting supply. It is like diamonds without the slavery.
 

Full Trucker

Frikkin newb!!!
Feb 26, 2003
8,502
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Exit, CO
This has been mentioned elsewhere. Just tech bros trying to find ways to create cash out of something with no inherent value by restricting supply. It is like diamonds without the slavery.
I recall there being something about Blockchain in general that was discussed... so yeah NFTs would be part of that. I went down a little rabbit hole this morning when @stevew mentioned Frank Kozik, who is also selling NFTs of his work. It's just... bizarre. But good on these artsy types for getting paid for their work. In this sense, I don't think it's just "tech bros trying to find ways to create cash out of something with no inherent value" but rather a way for creatives to monetize something that other people seem to find value in.

I think?
 

Full Trucker

Frikkin newb!!!
Feb 26, 2003
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In some ways, it seems not that much different than DRM for music, when one buys an album from Google Play or the iTunes store or whatever. But also different in a lot of ways, thinking about it more. DRM is a mechanism by which you gain authorization on a device to access something digital... NFT is saying you actually own those pixels or bits or whatever... more like buying the thing at a store but not actually having it exist in the physical world.
 

Westy

the teste
Nov 22, 2002
45,632
11,248
Sleazattle
In some ways, it seems not that much different than DRM for music, when one buys an album from Google Play or the iTunes store or whatever. But also different in a lot of ways, thinking about it more. DRM is a mechanism by which you gain authorization on a device to access something digital... NFT is saying you actually own those pixels or bits or whatever... more like buying the thing at a store but not actually having it exist in the physical world.
I can see using the technology to protect something like artwork and other IP. But owning a tweet? Essentially something that was made to be in the public domain, fucking stupid.
 

Full Trucker

Frikkin newb!!!
Feb 26, 2003
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So can the owner of a tweet, who has the NFT for it, make the decision on whether or not the tweet can be displayed publicly on the Twitter platform?
 

Changleen

Paranoid Member
Jan 9, 2004
12,275
1,239
Hypernormality
So can the owner of a tweet, who has the NFT for it, make the decision on whether or not the tweet can be displayed publicly on the Twitter platform?
Not in that case. So the owning a tweet example is quite dumb.
More interesting is the idea that people have trouble with the idea of owning something that doesn’t exist in the real world. We have done this for years in various ways.
 

stevew

unique white person
Sep 21, 2001
36,408
6,283
I went down a little rabbit hole this morning when @stevew mentioned Frank Kozik, who is also selling NFTs of his work. It's just...
weird....what are those going for...?

was it him or allen forbes who was beaten really bad a couple years back...?
 

Changleen

Paranoid Member
Jan 9, 2004
12,275
1,239
Hypernormality
More interesting is the idea that people have trouble with the idea of owning something that doesn’t exist in the real world. We have done this for years in various ways.
Wait till you find out what money is......whooboy!
Wait till you find out that our entire society only exists because of shared imaginary constructs.

Wait till you hear about religion!
 

kidwoo

Artisanal Tweet Curator
Aug 25, 2003
30,011
6,147
The old timey times
I don't get it. I can go to a bank and very clearly ask for my money... and hold it in my hand. It's as real as Pinocchio I tell you!
Is that what you get paid with? Like your employer hands those physical things over to that bank before you can get them from the bank?

Is that what you paid for your car/house/bike with? Big stacks of things?

What the bank can hand you at this point are symbols of what exist in a digital ledger. Just like NFTs
 

Full Trucker

Frikkin newb!!!
Feb 26, 2003
8,502
4,224
Exit, CO
Is that what you get paid with? Like your employer hands those physical things over to that bank before you can get them from the bank?

Is that what you paid for your car/house/bike with? Big stacks of things?

What the bank can hand you at this point are symbols of what exist in a digital ledger. Just like NFTs
So what I'm hearing here, is the owner of the Tweet just needs to print it out then?

 

mykel

closer to Periwinkle
Apr 19, 2013
3,509
2,166
sw ontario canada
Is that what you get paid with? Like your employer hands those physical things over to that bank before you can get them from the bank?

Is that what you paid for your car/house/bike with? Big stacks of things?

What the bank can hand you at this point are symbols of what exist in a digital ledger. Just like NFTs
FWIW, I remember a time of getting my pay packets and they we stuffed with cash and a few coins. Weird, I did miss the flush feeling walking around with a couple weeks wages in me pocket, but on the other hand, always paranoid something would happen before I made it to the bank.

Today, you have a hard time spending actual cash. Quite a few places have signs saying they take electronic payment only, no cash due to Covid. I do wonder if the acceptance of cash monies will come back to "normal" when teh 'rona is contained.
 

mykel

closer to Periwinkle
Apr 19, 2013
3,509
2,166
sw ontario canada
Did canada every tie their currency to a metal/shiny object like we used to with gold bars?
Yes, we were on the Gold Standard, then off of it, then back on, then off finally in 1931.
We have at times been tied to the British Sovereign, the Pound, the US dollar (WW2 era) and now unfortunately (unofficially, but close enough in reality) a barrel of oil.
 

kidwoo

Artisanal Tweet Curator
Aug 25, 2003
30,011
6,147
The old timey times
Whoa. Knew about the pound obviously but the US dollar? I'm assuming that was just to latch onto big drunk brother in case the commonwealth got all nazied up. Hopefully you learned that lesson.


now unfortunately (unofficially, but close enough in reality) a barrel of oil.

Oh shit, guess not.

Another 10 years months and I think the US dollar will most closely be tied with instagram likes.
 

DaveW

Space Monkey
Jul 2, 2001
9,502
1,160
Karori, Poneke Te Ika-a-Maui
sure, why not print out a picture of a mclaren too so you can own a mclaren

the printout makes it real I guess
Total aside, but I had lots of fun yesterday at work 10 min's before closing.
It'd been raining and a total fucking moron with a 6 month old McLaren decided to turn onto my street turn off the traction control and stomp on the accelerator.
He lasted all of 80m before loosing it, going off the road across the footpath, thru a barrier, over the retaining wall, and down the bank thru several trees and nearly making it to my carpark.
Drivers the guy in the blue shirt..... He didn't like me calling him a "total fuckwit" apparently??
So I just laughed harder at him.

Cops took him away to Wellington Central police station for "A more formal interview sir". :rofl: :popcorn:
20210410_164949.jpg
20210410_165257.jpg
 

kidwoo

Artisanal Tweet Curator
Aug 25, 2003
30,011
6,147
The old timey times
I recall there being something about Blockchain in general that was discussed... so yeah NFTs would be part of that. I went down a little rabbit hole this morning when @stevew mentioned Frank Kozik, who is also selling NFTs of his work. It's just... bizarre. But good on these artsy types for getting paid for their work. In this sense, I don't think it's just "tech bros trying to find ways to create cash out of something with no inherent value" but rather a way for creatives to monetize something that other people seem to find value in.

I think?
what's going on

 
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kidwoo

Artisanal Tweet Curator
Aug 25, 2003
30,011
6,147
The old timey times