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Who could have seen this coming (lemmy.zip)
submitted 8 months ago by to c/memes@lemmy.world
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[–] 8 points 8 months ago (11 children)

There are lots of legitimate but boring uses of NFTs, just not the kind that make the news like pictures of monkeys.

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  • [–] 17 points 8 months ago (8 children)

    Name one... 😅

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  • [+] -7 points 8 months ago* (6 children)

    Proves ownership that is much more difficult for scammers to steal. Banks and insurance companies can use them(contracts...etc). Reduces costs in proving ownership as well. Unfortunately art seems to be the only thing anyone knows about but it should honestly be a very secure but ultra boring technology.

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  • [–] 27 points 8 months ago (4 children)

    We already have mechanisms for all of that. Any security it provides you can have without it, the only difference it had going for it was "it has blockchain" and that was the Arbitrary Magic Hype Word at the time - like "AI" is now and "cloud" was before. In reality that means it's a huge unwieldy system that wastes tons of resources for what's often really poor reasons.

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  • [+] -7 points 8 months ago (3 children)

    We do have existing mechanisms in place. More expensive and less safe options. This is definitely not a huge and unwieldy system. Very simple and streamlined and much cheaper. Nothing amazing or world changing... just some minor technological advances.

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  • [–] 13 points 8 months ago* (1 child)

    I don't see how it's more expensive or less safe for authentication to be signing with a private key and publishing the public key...

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  • [–] 17 points 8 months ago

    You don't get it. It's on the block chain, it's a chain of blocks man, like it's decentralized finance man, we're calling it defi, like hifi but defi, it's gonna be huge.

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  • [–] 8 points 8 months ago

    No there isn't. There's lots of ways you can shoehorn NFTs in, but it's always a poor fit. People always try and claim that NFTs will solve some sort of problem that is already solved with existing technology.

    There is no problem NFTs can solve that can't also be implemented much more cheaply and effectively with an SQL database from the 90s.

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  • [+] -10 points 8 months ago

    I've sold some photos as NFTs 🤷‍♀️, and I've bought some art from well known people like sabet and ame72.

    It's not as ridiculous as people make it sound. It's just these headlines of the most ridiculous examples sets people's perception of the tech. It's really not much different than patreon or something, except the creator doesn't get totally screwed.

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