03-12-2021, 04:26 PM
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#41
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The new goggles also do nothing.
Join Date: Oct 2001
Location: Calgary
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__________________
Uncertainty is an uncomfortable position.
But certainty is an absurd one.
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03-30-2021, 06:45 AM
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#42
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Franchise Player
Join Date: Mar 2015
Location: Pickle Jar Lake
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https://news.slashdot.org/story/21/0...keep-vanishing
So this is kinda funny...apparently when you buy an NFT, it gets registered no the blockchain as a url pointing to the image. So what happens when that image isn't hosted in the exact spot it should be? Well then your reference to all the dollars you spent is gone. You can re-host it, but then the chain of ownership is gone too, because anyone can copy an image on the internet, and the only proof that version is yours is on the blockchain pointing to the url. And you can't update the blockchain location. This seems like a fairly flawed way to blow $69 million.
The chances of any of these sites operating and hosting 20 years from now? Probably near zero.
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03-30-2021, 08:44 AM
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#43
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Powerplay Quarterback
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Quote:
Originally Posted by Fuzz
https://news.slashdot.org/story/21/0...keep-vanishing
So this is kinda funny...apparently when you buy an NFT, it gets registered no the blockchain as a url pointing to the image. So what happens when that image isn't hosted in the exact spot it should be? Well then your reference to all the dollars you spent is gone. You can re-host it, but then the chain of ownership is gone too, because anyone can copy an image on the internet, and the only proof that version is yours is on the blockchain pointing to the url. And you can't update the blockchain location. This seems like a fairly flawed way to blow $69 million.
The chances of any of these sites operating and hosting 20 years from now? Probably near zero.
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The above is not exactly true nor is it what NFT's are all about. All NFT's are used for is to point the 'minting' or ownership of a certain asset. No one really cares about the links, they care about the ownership. The blockchain that these are on still link to a unique wallet and unique user. Sure they link out to an actual weblink but that's not where the value is. The value is that a certain wallet has the rights and ownership to the asset and the respective owner can transfer ownership to the next person on the blockchain.
The article alludes to the fact that "if you saved the image to your phone before it was removed, you could gaze at it while absorbing the aura of a cryptographic signature displayed on a second screen, but that could lessen the already-tenuous connection between NFT and artwork" but its missing the point of this entirely. What you are buying is the right to the art work. Kind of similar while not entirely to how some people have real art work hanging in their homes while others have close to identical reproduction's. At the end of the day its about the original work and who has the right to the 'minted' work.
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03-30-2021, 08:49 AM
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#44
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Franchise Player
Join Date: Mar 2015
Location: Pickle Jar Lake
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So what is stored on the blockchain then? It sounds like a link to the artwork, not the artwork itself. Perhaps a hash as well? But if the original file is no longer hosted at the link, all you have is ownership of a URL, pointing to calgarypuck.com/awesome.jpg. And if Calgarypuck disappears, what are you left with? Sure, you can transfer a dead link to someone else, but the item you own no longer exists.
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03-30-2021, 09:19 AM
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#45
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Powerplay Quarterback
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Quote:
Originally Posted by Fuzz
So what is stored on the blockchain then? It sounds like a link to the artwork, not the artwork itself. Perhaps a hash as well? But if the original file is no longer hosted at the link, all you have is ownership of a URL, pointing to calgarypuck.com/awesome.jpg. And if Calgarypuck disappears, what are you left with? Sure, you can transfer a dead link to someone else, but the item you own no longer exists.
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The blockchain shows which wallet at the end of the chain holds the rights and ownership of the JPEG. The blockchain simply shows all the transactional data of where the artwork was owned and by which wallet.
In your example the awesome jpg is what you have ownership to. You could print it or frame it or put it as your desktop saver. At the end of the data its the fact that you purchased the ownership rights to it.
A really good example of NFTs is a website called NBA Top Shot. Think of it as trading cards back in the day but rather than cards they are 'moments'. These moments are 10 - 20 second replays of games and come in 'packs' similar to sports cards back in the day. They are supported on the back end by a blockchain and track ownership. At the end of the day the NBA has licensed these and anyone who owns the moments has the rights to them.
https://www.actionnetwork.com/news/n...d-company-2021
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03-30-2021, 09:23 AM
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#46
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Franchise Player
Join Date: Mar 2015
Location: Pickle Jar Lake
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Quote:
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Well, then the NBA can spin off an NBA Top Shot by themselves or go with another developer and they can essentially honor the past collectors assets.”
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Or choose not to, and re-sell them on a new platform?
I dunno, without any actual object to tie the value to, you really end up with something that is useful only as long as the technology exists. Imagine you bought a Flash file 20 years ago, now there's really no convenient way to view flash files.
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