Clubhouse: NFT with Matthew Tkachuk

[The Yen Man]

I guess in simple terms, it's a digital hockey card that can't (yet) be stolen and replicated, and every time it changes hands, the people involved get royalty.

[dino7c]

Originally Posted by CSharp

It'll be a matter of time before the Russians will have blockchain process hacked or corrupted. Either that or the blockchaining will be overwhelming to complete any more transactions. Once that happens, all crypto-transactions will collapse. It's not like digital rights haven't been hacked or stolen before - all digital intangibles can be hacked and faked. At least even with a forged art like Mona Lisa on your wall, you can still admire the smile and the beauty that's in front of you without logging into a computer and searching through a bunch of files to get at it. And you wouldn't care if another person owned a copy of it since you know it's fake and it cost a fraction of the real thing.

It's owning the rights to something and really isn't new. If you own the rights to a photograph, a song, a movie ect. You get paid every time it's used.

Blockchain just facilitates the ownership and is more secure than our previous systems.

Nobody is "hacking the blockchain"

No need to fear the future, embrace it

[Mathgod]

We definitely needed 2 threads on this. https://forum.calgarypuck.com/showthread.php?t=182890

[calgarygeologist]

I saw an article on the topic of NFT and Mark Cuban wanting to use it for Dallas Mavericks tickets. The benefit to Cuban and the Mavericks is that they could get a cut of the secondary market revenue but I see no benefit to consumers with this technology. I guess maybe there is some additional security when purchasing on the secondary market in that it would eliminate counterfeit tickets?

[corporatejay]

counterfeit tickets seem to only be an issue when people aren't willing to pay through verified channels (stubhub, ticketmaster, vivid). The reason people don't want to pay through those channels is usually increased cost. NFTs aren't going to make these things cheaper

[Textcritic]

Originally Posted by PepsiFree

NFTs destroy the environment! And they are dumb! That’s all I know.

Help me to understand this.

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[Textcritic]

Originally Posted by Jason14h

As opposed to physical Art which is mostly faked and validity is proved through providence?

I don't believe the validity of art works have depended on "providence" since before the Enlightenment.

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[Jason14h]

Originally Posted by Textcritic

I don't believe the validity of art works have depended on "providence" since before the Enlightenment.

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With high quality forgeries provenance is ALL the certification houses care about.

NFT's take away any risk of forgeries.

This opens a lot of use cases.

But as long as you don't "believe" I guess it doesnt matter

[Kovaz]

Originally Posted by Textcritic

Help me to understand this.

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NFTs use the same underlying technology as bitcoin: proof of work. Essentially: for any transaction to take place, someone else has to solve a math problem to validate it. Solving it takes a ton of computing power, which uses a ton of electricity. Current estimates are that bitcoin uses around 130 terawatt hours of electricity per year - more than Argentina, if bitcoin were a country.

[Monahammer]

Originally Posted by Textcritic

Help me to understand this.

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It's the power usage of blockchain operation and memory storage (as Elon put it, "Computers never sleep"). There are reports that Bitcoin, also using blockchain technology, now consumes more power annually than Argentina, for example.

[Rick M.]

Don’t cry for me Argentina.

[Jason14h]

Related in regards to virtual trading cards

https://www.espn.com/nba/story/_/id/...t-305m-funding

[Textcritic]

Originally Posted by Jason14h

With high quality forgeries provenance is ALL the certification houses care about.

Yes, but provenance is quite different than providence.

I guess it was a bad joke.


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[Textcritic]

Originally Posted by Kovaz

NFTs use the same underlying technology as bitcoin: proof of work. Essentially: for any transaction to take place, someone else has to solve a math problem to validate it. Solving it takes a ton of computing power, which uses a ton of electricity. Current estimates are that bitcoin uses around 130 terawatt hours of electricity per year - more than Argentina, if bitcoin were a country.

Jesus.

That is awful.

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