Now, normally I object against copy-paste of YouTube links with very little comentary. However, I am going to break my own rule now, and just post a link to Nerd³ ranting against NFT (Non-fungible token). I do not think it will have the same impact if I discuss it first.

It struck a cord with me, and I assume it will with most people here as well. It is only 11 minutes long, so it is a good little watch with your cup of tea, and well worth this slice of your life. So, here it is :

https://www.youtube.com/watch?v=qdyfVL2nvYs

(edit: oh, and if there are some little ones around you, you might want to consider covering their ears first before starting the video)

Yeah, this is something that I hope is struck down quickly.

As I understand, these stupid shitstains ore doing the equivalent of going to the Louve, and slapping a 50m$ token next to the Mona Lisa to claim you own a copy of the image. (TL;DR: Like those "Own a Star" scams.)

The thing is, those cryptographic signatures could be great for other things once the kinks are worked out, but idiot billionaires have enabled all kinds of new stupidity.

Do your part, and report these imbeciles to your local trade commission or other legal governing body as needed.

The entire concept of creating a token that "digitally proves you own something" without any ownership verification taking place as a part of an unregulated cowboy system where literally anyone can attach any ownership "token" to anything (eg, claiming "original ownership" of a PDF scan of someone else's birth certificate, passport, or house deeds, etc) was always 100% nonsensical for property rights. Legal systems will give zero credence to this stuff and the only people talking it up are a few crypto-nerds who think it's going to "change the world like Bitcoin" when they only thing both have brought to the table in the big picture of things is a sh*t-load of fraud and a staggering waste of energy resources, always seems to come from the same doe-eyed ideological geeks who are completely divorced from reality as to how the real world actually works...

For DRM-Free gaming, I doubt it will change much vs now as DRM-loving publishers like Ubisoft are already dead to many of us anyway, same goes for cr*p "Freemium" mobile games rented piecemeal and games with "pay-per-play" DLC - I wouldn't touch any of that junk with a 10ft pole anyway whether they were "NFT signed" or not. It probably will initially result in more fake DMCA takedown claims (and counter-claims) on media hosting sites (Youtube, etc) which will eventually be ignored for having no legal standing anyway vs actual Copyright law, and post novelty hype they'll probably eventually fizzle out for being unenforceable in most countries.

How bored can these hella rich people be.

Someone 'BOUGHT' Nyan cat for what was is like over 600k?

Who are these people?

The 1%. Let's get back to waiting for graphics card availability at prices we can afford now, shall we? :P Like the mere middle or lower-middle class mortals we are. Some say: to be poor is bad, to be rich is insane. Oh my, you learn new things every day... anyone who thinks he can own (or even name) something whose light took tens, to hundreds, to hundred thousands, to millions of years to get to our lonely planet (and might not even still be there by the time this happens), gets my ultimate naiveté award.

Sorry, you're too late. I already think the whole thing is fucking ridiculous.

It's money laundering and tax evasion, like most modern art.

Did not think of that. Yea sounds about right.

Copyright itself is almost universally decrepit regarding anything that emerged in the last 20 years, and the emergence of this as some kind of supposed alternative points quite strongly to the idea that humanity is advancing headlong into its own ass. Calling it capitalism doesn't make sense though. The disease of assigning unrealistic value, whether material or philosophical, to things that don't have it is part of the human condition.

It didn’t surprise me. For decades now the move towards a worthless economy has been in full swing. Digital effectively means worthless. Streamed telly, music, film, pictures, art, etc. All worthless. Even I do it, if something doesn’t capture me immediately I will just skip. Money is worthless, just numbers on a computer, swipe some plastic to pay for things wether you have the numbers or not. Reminds me of this video from back in the day:
https://www.youtube.com/watch?v=ZiJa9diJOMk
The yuppies started it all back in the 80s.

Some good news, there is a slight counter movement in terms of vinyl and such like.

Not sure if this is a coincidence or just "trending", but yesterday I happened to watch this "NFT" video:

https://www.youtube.com/watch?v=I8ac9hzagbs

All I could think of was "What the heck is this shit? Is this related to something? And I thought this would be some SNL skit or something...".

I stopped watching that at around 20s.

Suprised its taken so long for somebody to make a thread on this here.

Utterly hate NFTs - aside from the environmental impact and the lunacy of it, already I'm seeing damage to artists incomes from people just stealing things or even impersonating the artist (who then gets an influx of people demanding free work because they're "rich").

Worse is the fact plenty of artists who have decent incomes from their work have hopped on the NFT bandwagon as if its a golden age for us all.

Ok, so now I think I understand what this NFT is...

...but why should I care about it? I know rich people can use money on ludicrous things like buying a genuine Lewis Vutton handbag for millions of dollars, but why should I care?

Could NFT somehow affect my life and my gaming? If not, then meh.

it's also people who think it is an "investment", so they hope to sell the tokens later for an profit, just like with physical art collectors.... but it isn't....

It's like Bitcoin itself. In both cases it's a massive pyramid scheme - something I said when Bitcoin first started. What I didn't realise was how big a pyramid scheme it was going to become (and now I genuinely regret not jumping on the bandwagon as those "investors" made millions). However at some point someone has to be left with a load of worthless Bitcoins, there's no other way to get the money back out again.

it's somewhere between investment and gambling (which arguable most investment is nowadays). The big difference is that traditionally investment was a productive process because the money you invested was actually then used to build something that was worth more. Here it's got to leave someone holding the baby as there is no productive asset being produced.