NFT and the Future of Digital Content
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I think you miss an important point.. this is an art site that sells materials to artists to make art.
not a gallery to purchase art with digital reciept tokens that have less stabilty than quicksand.
+1
In regards to Daz, I can guess they would be attracted to NFTs because it would streamline their checkout and licensing process. So, their way of introducing this might have been wonky, but obviously from this discussion it can be a complicated topic given all the hype surrounding it.
Simply, an NFT is a unique digital contract tied to one type of cryptocurrency or digital currency or another. Nothing more. If you like one currency more than another then opt for that.
The actual NFT technology is neutral though. Whether your financial institutions run the system or its a decentralized system where your GPU is part of the transaction validated process, the technology is now here. Not coming. Here. Questions about energy use don't really make sense, because people are going to make a value judgement on what they think is important. If you can convince every gamer mining Ethereum to pay off their GPU is hurting the earth, well, some big institution or another is going to still use that amount of energy to process transactions.
And, conflating ETH mining with Bitcoin mining, in regards to the "energy" argument is dishonest. They are two different types of mining with different energy signatures. Most NFTs won't even use mining, so, it's really a non-issue other than certain news outlets want to catch eyeballs.
Yes, it says in the "About" box that the the seller has been granted exclusive authority under the Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space, to distribute land on Mars.
Not The United Federation of Planets? Damn. So disappointing ;)
Next to the discussion of eco-friendliness is just the enormous speculation of it all. Anyone here recalls the 2008 banking crisis? Or the 2001 dot-com burst? All fueled by speculative ventures. PoW / PoS creates an artificial scarcity, which somehow makes it valueable. And while it is true a value token can be exchanged by two willing parties, it doesn't say what it is backed with. And this makes it speculative and prone to being a house of cards.
The insidiousness is when you are IN, you are IN. Everything comes with an investment which is not light in any regard unless you are rich enough to take a fall, and there is no guarantee of any kind of return. You are forced to defend it, cost what cost, because the pyramid needs to grow!
And for the argument of that it makes us free of banking and oversight, that is actually a negative, in the long run. You need soime form of oversight, see point 1 -banking crisis / dot-com bubble-
I would consider the land-grab a much less risky venture.
I agree with you, but the staunchest crypto defenders actually like that about it. The more I read about this stuff, the more I think this is also a political thing.
The land-grab looks to be a better option, less risky and less energy cost.
Also it looks like DAZ itself is even confused on how NFTs should work. Let's just hypothetically believe what they and the NFT snakeoil salesmen are peddling and that NFTs get their supposed value from being like "limited edition" prints. DAZ doesn't make any garuntee that it will even be limited nor that they will produce more of the same in the future. In fact they've already listed the same thing on multiple different exchanges. How can something that keeps being cranked out have any artifical scarcity? Magic: the Gathering cards have their second hand market value because Wizards of the Coast/Hasbro has a written policy that they will not reprint certain cards, that way the cards are not devalued by reprints flooding the market.
Daz has said that NFTs would not be an effective way of selling content and that they are not planning to try it.
The appearance on different market palaces is most likely due to moving to the Wax blockchain, which is supposedly less energy consuming. We are still looking for numbers to confirm that though, but it does look like it's a lot better at first glance.
Please verify this with a trustworthy source.
Oh, sure. Take all the fun out of it.
In regards to Daz, I can guess they would be attracted to NFTs because it would streamline their checkout and licensing process.
In what way? Right now an artist buys a license to download and use an item DAZ was selling in their store. There is no way an artist would want to buy a token to a link for hundreds of dollars at current NFT/transfer costs (plus whatever DAZ wanted for the item). So no, NFT would not help DAZ sell items – at the ‘new’ NFT price points it would in fact close the store down.
Cryptocurrency
Fluctuates, which is another reason many of us aren’t interested in playing the game of hoping the bottom doesn’t drop out of it at any given time. If we wanted to play those games we’d all be playing the stock market (and there wouldn’t be any day-traders if every stock transfer was as much as what these NFT brokers want.)
Most NFTs won't even use mining
They just want your cold hard cash.
Let’s face it, NFT is a money-making scheme. The problem is the artists aren’t going to be the ones seeing most – if any – of that money. The only guaranteed winners in this game are those getting paid to generate the NFT and the ones getting paid to do the transfers.
Like most schemes only a few people in the right places at the right time are going to make money on NFTs, your average artist ain’t them; which makes how hard certain people are pushing this scheme rather suspect – as they can only make money if they can convince others to buy into the idea and open their wallets. Funny thing, I refuse to use paypal for the same reasons I’ll stay away from cryptocurrency and NFTs – a lack of trust. (I do have a few friends that do use paypal, and the idea that paypal can and has frozen their accounts for no given reason at all – and maybe unfreeze it and still never say why – is not a company I want holding any of my money.)
...+2
...well that is if Daz3D did crypto transactions.
I can't speak for everyone, but being on a fixed retirement income (that isn't much) I am good with using my nation's currency. Why should I convert (paying a fee) my zloty's to Poopoocoin to make the transaction while I can easily do so through my existing debit card and save the step (and transfer fee), as well as not having to set up a crypto wallet beforehand? I don't need to hide my identity for a legitimate above the board purchase (which is one of the attractive features of crypto).
...many years ago I was at a Sci-Fi con in Seattle. Being an avid table top gamer I always like to test out new ideas. So I hear s about some new fantasy trading card game ad if you participated you got teh deck you used for your troubles. So I attended the session (at the time tabletop gaming was primarily strategy games, standard board games, and RPGs). I found it interesting, filled out my review card and took my deck. One of the comments I wrote was "Quaint idea makes for a nice 'pick up game' with friends when you don't want to deal with something more complicated. However, don't see how good it well fare given the established RPG and wargame market." As I was heading down the hall afterwards I gave a kid the box of cards.
Yeah, investing is not my strong suit..
LOL. Yesterday was hilarious enough.
Please explain this. I'm curious how this works. Also, what exactly is an energy signature?... sounds kinda Star Trekish.
Well the phrase "most NFTs won't even use mining" tells you that it will be this way in the future, around the time Star Trek happens, i.e., sometime in the 22nd century, after we're all dead. Well, everyone except Elon Musk.
Bitcoin mining uses computers dedicated to only mining Bitcoin. Commonly referred to as ASIC miners, they are power hungry and many of them extremely loud. Mining farms will have a warehouse full of them. Ethereum is mostly mined on video cards. Many of the Ethereum miners are gamers and such that have a GPU or two to mine a few extra bucks worth of crypto. There are GPU mining farms, but they are harder to maintain so don't get as much investement on a massive scale as bitcoin mining.
Newer NFTs such as Flow use "Proof of Stake" or a similar scheme to validate transactions. So they are less power hungry than GPU mining, however the downside to proof of stake is that the biggest stakeholders generally have the biggest influence on the network. More incentive to hoard. There are plusses and minuses to every approach though, depending on the goals of a particular community.
That still sounds like a problem looking for a solution;
Don't get me wrong, on some level a ledger that keeps track of all sales and ownership is interesting in the digital age, but the current implementations come with so many negatives that it really isn't worth it, either on a moral, ecological,economical or implementation level, take your pick.
In effect, it is Ethereum mining that makes it impossible for us to find ANY GPU's let alone the better ones.
Having somewhat slower pace at work at the moment, I've been browsing the auction site and noticed that out of yesterdays 18 million NFT's, 1.9 million were CryptoKitties... Which someone has paid real money for minting, and I was wondering why, but then it dawned on me... The kittie-game was just a tool to increase transactions in ETH... Which is THE game actually played.
He claims that poisoning the soil with waste oil is not the same as poisoning the soil with dioxins.
He is also conveniently forgetting that historically bitcoin mining has started out on CPUs, then moved on to GPUs when that before Application-Specific Integrated Circuits (ASICs) for that particular application were developed.
So because nobody built specialised devices for Ethereum/NFT mining yet and it is currently doing what bitcoin did ten years ago it is somehow inherently different. Supposedly.
To mint a NFT you still need ETH, which needs to be mined regardless if it ends up on a PoW or PoS based blockchain.
You can't verify many (what does that even mean, 3, 300, 3 billion) gamers mine as the the biggest mining pools offer anonimity (See section soft strength). And in general gamers seem to dislike miners for the same reason people here of the forum dislike miners, examples are not hard to find: It seems what you're saying is not that easily verfied, and I am not sure what point you are trying to make.
There are no real-life numbers on the power consumption of PoS or DPoS but if you can point me to a trustworthy source of those I'd be (really no sarcasm here) greatfull. In the meanthime, the single ethereum transaction footprint has skyrocketed so much I need to update my signature.
Sadly, I can't find a reliable source for the energy difference between PoW and PoS mining. People in this discussion and DAZ on their NFT page have claimed a 99.9% saving. The one source I found online that gave numbers claimed that PoS used about 1/10 the energy of PoW, but that site was biased in favor of PoW mining. There is a huge difference between those numbers. Until and unless someone can find reliable numbers, I will just go with belief that crypto mining and NFTs are all bad.
It isn't fun if all that is happening is the spreading of false information.
Sadly folks, far too often, prefer inacurate information that confirms their biases to what is accurate
....just received a sales email this morning from Daz that mentioned NFTs at the bottom of the page which somehow skipped through the filter.