GAMESTONKS II - Full Faith and Credit in Memes

[Spicyryan]

Now it's digital

Hold on let me get a scanner off of eBay next. Shi~it, we had all the tech all along!

[Athas]

I'm sorry, your words made sense, but your sarcastic tone did not.

You know there's a QR code in the picture you quoted, right?

[Spicyryan]

I'm sorry, your words made sense, but your sarcastic tone did not.

You know there's a QR code in the picture you quoted, right?

QR codes? What is this, a European café? That certificate only be more perfect if it had an NFC tag programmed, and stuck onto it.

[Meresgi]

Hold on let me get a scanner off of eBay next. Shi~it, we had all the tech all along!

[Meresgi]

double post

[Spicyryan]

You lost me with the joke.

Point is, despite the hype and price speculation of the industry. We should be evaluating the capability of the tech. Not sitting here going "YEAH I COULD SEND A TEXT AND DO THE SAME PERCEIVED THING" sort of bullshit comments. I was absolutely anticrypto for countless years now until last year. I vehemently thought Bitcoin and anything else before NFTs even existed were the dumbest thing, and an outright speculative scam. Now I feel that others are that way too, and it just takes time for it to break into the psyche. I mean, at the very least NFTs are doing that. If not completely in the wrong way, but hey. It doesn't change the value of application in the tech. I at least know that.

Lets be honest though. If we were sitting there camping fucking Fafnir in 2005 and anyone said that we could own the original 1/1 <insert image here> as well as a the legal ownership of actual physical property via NFT. Then we would have thought that was pretty cool. That is if we could have even understood how such digital infrastructure would have even worked. I personally would have been caught up in the later. It is still an unfulfilled industry is why its even at this point.

[Drai]

If I was camping Fafnir and he dropped me a fucking Non Fungible Ridill, it wouldn't change anything for me if the fucking thing HAD been Fungible, even if I somehow OWNED that Ridill, eventually sometime in the future the game will shut down, and where does that leave my Ridill?

My non obtuse point being, at the end of the day, your investment only exists for as long as the people who control the means of Minting said item decide to keep the lights on.

[Richybear]

If Fafnir uses Spike Funge, that's a wipe

[Mythe_Seraph]

I get the “while the lights are on” sentiment but I think the stance is limited in scope.

What if these items existed not only in the game but was also recognized by a wider application. Let’s say square Enix sold their games on something like steam, and your steam account housed your NFT based items. Maybe these items could be honored or utilized in future SE games or whoever chose to adapt it.

It’s easy to say why it wouldn’t work but I think a lot of people would be excited for cool opportunities like that. I would’ve been stoked to know if some of my FFXI accomplishments would’ve had future application. Or any other game for that matter. Wherever the integration may lie.

[archibaldcrane]

That could be cool, but that type of interoperability is dependent on various game devs making it work, not proof of ownership being recorded in a distributed ledger.

[Qalbert]

Steam literally already has an Inventory for digital items (like TF2 for example) so again, NFTs do nothing that hasn't already been done.

[Krandor]

The idea of shared inventory between games already exists (Ubisoft has had a similar thing for years with achievements in certain games unlocking items in another game), magically calling them NFTs won't suddenly make every developer/publisher open this up to the world.

[Stilzkin]

One use case I've been told about is wine futures. In that situation there are no issues with interoperability like there are with video game items. It could allow for more seamless trading of the contracts and competition among websites, but... I don't anything about trading wine futures.. Would it actually provide tangible benefits? Is there currently monolithic control of the market?

I don't think the reality of NFTs is as exciting as NFT proponents would like everyone to believe. It's not the missing piece with which we can finally enter the metaverse.

[Melena]

Most high end wineries already let you buy products that are still aging and won't be available for years, if not decades.

[Mythe_Seraph]

I think the NFT application has less to do with personal digitial inventory and more to do with the creation of a secure marketplace for exchange of these items for either in game, digital, crypto or real money trade.

[archibaldcrane]

Right, but since we don't live in Somalia there are plenty of billion dollar companies willing and eager to establish secure marketplaces for any number of goods.

[Spicyryan]

Most high end wineries already let you buy products that are still aging and won't be available for years, if not decades.

"Look at my physical certificate of authenticity. I can even fax it to you."

99%+ of wines don't age for decades. In fact most aged wines are unpopular to the palate of the average consumer. It is just a false sense of prestige. As far as an NFT for this matter goes. It doesn't remove the cumbrance or counterfeiting of the physical object. However, it would be easier to manage the certificate and exchange of ownership to it digitally, especially at an auction. Which is what this niche topic applies to, and an NFT can be theoretically applied to.

Right, but since we don't live in Somalia there are plenty of billion dollar companies willing and eager to establish secure marketplaces for any number of goods.

This is how the market evolves to start filling a need. It isn't going to be the prettiest evolution. Most of the time any evolving tech or industry isn't. There are actually needs to be met here. We can say there would be plenty of other solutions, but where are they, and why have they not already materialized to the point of the potential value of an NFT being beneath debate?

[Forte]

This is how the market evolves to start filling a need. It isn't going to be the prettiest evolution. Most of the time any evolving tech or industry isn't. There are actually needs to be met here. We can say there would be plenty of other solutions, but where are they, and why have they not already materialized to the point of the potential value of an NFT being beneath debate?

Oh so now it's "potential" value? Not actual value, but potential? As in not there yet? Alright, cool, thanks for adding speculation to your bullshit technology that hasn't proven itself useful to anything except idiots gambling with money. Meanwhile it's cool to shit on all the existing tech that exists that literally works just fine and doesn't melt graphics cards or involve idiots gambling. Go with the new shiny thing you clearly don't understand in the slightest, because it's new.

[Spicyryan]

Oh so now it's "potential" value? Not actual value, but potential? As in not there yet? Alright, cool, thanks for adding speculation to your bullshit technology that hasn't proven itself useful to anything except idiots gambling with money. Meanwhile it's cool to shit on all the existing tech that exists that literally works just fine and doesn't melt graphics cards or involve idiots gambling. Go with the new shiny thing you clearly don't understand in the slightest, because it's new.

It appears that I have been too mean to the fax machine. Oh my.

Your diatribe doesn't make an argument beyond being mad and crabby. I believe I've said enough on the matter while you just want to shit on it.

[Drai]

It appears that I have been too mean to the fax machine. Oh my.

Your diatribe doesn't make an argument beyond being mad and crabby. I believe I've said enough on the matter while you just want to shit on it.

you actually haven't really said anything, I've been waiting for anyone within this conversation to explain exactly how NFT's themselves fill a void that was left empty by literally anything else, and please don't confuse NFT's with Blockchain itself, they're not the same.