@yarmo Yea to be fair this level of absurdity is hardly anything new. What gets me is that NFTs as a concept are a legit and valuable tool but all the hype is going to the nonsense uses.

@realcaseyrollins

While that is a cool and interesting use for them I'd say there are way more uses. Anytime you have something that has a value, but its value is unique to the thing a NFT makes sense. So in the real world using NFTs as a way to sell digital art would make a lot of sense, if it were done correctly.

Right now most of the time an NFT doesnt denote ownership, its just some fad thing. But if the license was written so whoever owns the NFT owns the copyright (or some similar license) then it might have value if im the only one allowed to use the image or sell it.

But also it could be used for real world things like a home, or a physical painting.

All that said, thats the obvious intended use, but I see lot sof other less obvious good uses. For example if you wanted to create something like a bond where it has a fixed time period and interest rate, that makes a lot of sense as a NFT too.

@yarmo

@freemo like you say, the separation of NFT and ownership kind of defeats the point of "buying" something.

I agree with your other use cases but the institutions that would need to be created and replaced, I don't see it happening. But I'm sure people will keep fighting for it so maybe one day!

@realcaseyrollins

@yarmo

It doesnt require any sort of institution at all. Just requires a person to write a license or contract that states as much. Some of the use cases (like the idea of a bond) can be entirely on the block chain and dont even require that much.

@realcaseyrollins

@freemo what I meant was, buying a house via NFT makes sense on paper. But good luck going to the bank/government with an NFT when they ask you to prove ownership. A lot needs to change before I can buy a house with an NFT.

Although I personally wouldn't want my house ownership to be registered on a blockchain. Maybe in 20-30 years, once the blockchain has proved to work for at least the duration of a mortgage.

@realcaseyrollins

I am not a lawyer, so i can only speak so far on this. For a house you might be right as there is additional regulations on them of all sorts. But for most things I dont think this would be an issue.

I am pretty sure if the owner of the house said they would transfer owner to the house to whoever owns a particular NFT, and this was a signed contract, then yea the government would honor it. If the person refused to transfer the ownership you would just sue them for the home and show the contract and prove in court you own the NFT.

I really cant see any reason the current frameworks wouldnt work.

@realcaseyrollins @yarmo

@iceloops there are cheap nfts.. hell you can mint your own NFT for cheap enough. But yea for many NFT it isnt worth the price.

@freemo i seen the some i want are 80 dollars now but i know eth has been going crazy i might look at other places for them

@iceloops Depends on what appeals to you. Cardano I think already has NFTs. I would need to check though, could just be ordinary tokens.

@freemo i seen wax it seems be cheaper but i agree with a friend we are not sure how long it will last.

@freemo i seen on wax you can buy gopepes or some pepe nfts and some other ones and thats cool

@iceloops yea but you can also just download the image :)

@freemo yeah wonder if buying trading cards would be a better investment

@iceloops depends. if the game itself linked into your NFTs so you could only play a card if you own it then at least it is serving some function

@freemo like i seen force of will and magic cards going up

@iceloops not familiar with that.

@freemo its just a old trading card game like pokemon

@iceloops Yea but can you play the game on the blockchain as well?

@freemo no idea

@freemo i think someone should do that sometime that would be cool you already can play poker on the blockchain

@iceloops there are probably a few card games on the blockchain, but I never looked

@freemo not me either all i know is they are some older nfts called curio cards and other things

@Pat Non-fungible token - Wikipedia - https://en.m.wikipedia.org/wiki/Non-fungible_token

@aluaces

Thank you.

Yes, although I never heard of the term "non-fungible token", I knew he was talking about block-chains and deduced what NFT was after looking it up. My comment about "not for tourists" was a joke, inferring that people who were unfamiliar with the terrain might want to avoid them.

Also, it was another callback to my rant at:
https://qoto.org/@Pat/106652251397891280

@Pat many times acronyms are used to draw away strangers, but this time NFTs were widely named by the media as NFTs. Anyway, "Non-fungible Token" is clear as mud the first time one sees it.