this post was submitted on 15 Apr 2025
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The technology is not a scam. The tech was used to make scam products.
NFTs can be useful as tickets, vouchers, certificates of authenticity, proof of ownership of something that is actually real (not a jpeg), etc.
But where specifically does it help to not have approved central servers?
Wouldn't entertainment venues rather retain full control? How would we get out from under Ticketmaster's monopoly? If the government can just seize property, then why would we ask anyone else who owns a plot of land?
Pretty sure ticketmaster has all the control.
Using a decentralized and open network (aka NFTs).
It's not about using NFTs to seize land. It's more that governments are terrible at keeping records. Moving proof of ownership to an open and decentralized network could be an improvement.
FWIW I think capitalism with destroy the planet with or without NFTs. But it's fairly obtuse to deny that NFTs could disintermediate a variety of centralized cartels.
Sorry to be obtuse, but could you break this down some more? How does the replacement being decentralized and open help against TM's anti-competitive practices?
NFT's are a scam. Blockchain less so but still has no use.
NFTs were nothing but an URL saved in a decentralized database, linking to a centralized server.
That implementation of NFTs was a total scam, yes. There are some cool potential applications for NFTs ... but mostly it was a solution looking for a problem. Even situations where it could be useful - like tracking ownership of things like concert tickets - weren't going to fly, because the companies don't want to relinquish control of the second-hand marketplace. They don't get their cut that way.