Monday, January 29All That Matters

Extremely Fungible Tokens: The Anti-NFT Movement

Extremely Fungible Tokens: The Anti-NFT Movement

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  • EverMoreMischief

    I had an insight into NFTs, they’re meant to be an upgraded version of in-game item purchases. They’re being marketed to people who are already making in-game purchases, which anyone can recognize is about the worst financial decision you could make. So, an upgraded version has a very low bar to clear, and in this case the gimmick is that they’re (theoretically) resellable. It solves the problem that your purchases are tied to the game and owned by the game publisher, but also introduces the new problem that your in-game purchases don’t necessarily even have a game to be in (or just a truly terrible one). So… *a close second* for worst financial decision you could make.

  • Sir_Bantersaurus

    Everyone I know seems to hate NFTs and I live in a very tech-literate world, as does a lot of Reddit I suspect, so who *is* into NFTs?

  • Mun-Mun

    I don’t get all the controversy. If you like NFT’s good for you do whatever you want. If you don’t like it, who cares, move on with your life don’t participate. It’s like getting angry that someone is buying and selling magic the gathering cards at absurd prices. It doesn’t affect you. With that said. NFT’s have more use than just art.

  • MozerfuckerJones

    I just look at the type of arrogant and sardonic comments left by most redditors and think it’s gonna be a thing to be honest. It just reminds me of the type of things people say before every tech shift. They diss an early rendition of a thing, and form their opinion based on articles with incomplete or inaccurate information so that they can repeat sound bites that make them sound smart.

    I’m not saying they’re gonna be successful, but I’m going to take note of why so many major companies are diving head first into them. The list is increasing every day. Companies are creating departments for a blockchain/nft/crypto team because they’re getting ahead of the game. They’re investing loads of money.

    To me all this hate about something people don’t fully understand only makes me think it’s going to work out when they actually realise what companies can use them for, even when they’re simply under the hood of services.

  • Yprox5

    It’s not about making copies, it’s about proof of ownership on a public distributed ledger. You can literally make billions of copies but you will never own the original.

  • MyNameIsRobPaulson

    And remember, when you buy an NFT of a JPG, you aren’t buying the picture, but a link to **view** the picture that someone else owns and hosts. Also everyone else can view (and screenshot it) too – meaning the key you own to view it is worthless. In fact, the person who screenshots and saves the file is closer to ownership than the one who owns the NFT link.

    It’s complete madness.

  • cLuckb

    Looks like the Crypto-bros are already here to defend their JPEG monkeys.

    Ya’ll can say “You just don’t get it” as much as you want, but the fact is that NFT’s will always be a solution looking for problems that don’t exist.

    Just admit this crap is just so you can make money off suckers already. After all, almost all of you defending NFTS are regular posters at r/Superstonk

  • parad0x01

    It seems weird to me these haven’t really evolved yet to programmatic renderings. Something of a Dorian Gray. These could fairly easily be programmed to change by the second over the course of 100 years or whatever length of time.

  • Howard_Scott_Warshaw

    I’ve tried to, but still have difficulty understanding it. The original idea of a NFT seemed cool; a way to prove ownership of a digital asset. Then it spun into the dumb with crypto punks and those stupid monkeys.

    I think most of us can agree (or maybe we can’t?) that the original Mona Lisa is more valuable than a print you buy at the gift shop, that the original Honas Wagner card is more valuable than a scanned copy, etc. NFTs seems like a novel idea about how to translate this into the digital space, but here we are, in a tulip bubble.

  • EtherGorilla

    I’m calling it right now, in 5-10 years the vast majority of people who are angry with NFTs will realize they were making a mountain of a molehill. They’ll definitely be a part of daily life by then, whether we’re talking about tickets for concerts or professional licensing or otherwise. I think we’re just super sensitive right now to all the random crypto grifts going on that when we hear “NFT” we think of spending absurd amounts of money for jpegs.

  • Rambo1stBlood

    This is another instance of “dont make a video about every trend subject”. haha

    like, i stuck with him until i heard his reasoning but his idea of “flooding the market” with “fake nfts” makes no sense… You really need to have no clue what an NFT or anything about crypto to think that is how it works, and that begs the question as to why he hates them so much.

  • WhatsTendiesPrecious

    Lol owning an NFT image is just one of the many ways NFTs will be used. Viewing it so one dimensionally is a mistake, and those who shout it in videos should be viewed with skepticism.

    A lot of technology was thought to be dumb at first.

  • shadowrun456

    It’s interesting how there’s this huge influx of “anti-NFT” videos just after major ad networks banned ads for NFTs. Am I the only one who thinks this is used to go around those bans, as a sort of guerilla advertising for NFTs?

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