I am not a high tech computer person. I am low tech..(even lower tech than @Zorba in some ways) so please explain like you would a kid. I am trying to understand what they are for. I understand they are bought and sold as a commodity. But I do not understand why I'd want to own one. I understand that there is some people linking them to a digital ticket...like to get into a movie or a beer festival. That makes sense to me...it's a tangible something. But there are also NFTs of a tweet. Does that come with licensing features like music? Or is it more like a piece of artwork that some may find valuable and others not simply because of niche interest?
Help me understand NFT
- Thread starter Midtenn
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I would suggest this is the current usage. It's creating more liquid and accessible markets than we have now with things like art where you have to go through a dealer or auction.
It's hard to tie an NFT to anything physical, since that requires human intervention. However an additional thought in the crypto space is that an NFT could represent physical ownership of a thing (e.g. a car or real estate) removing the idea of a records office, etc. But there's a lot more there that's difficult, such as if someone loses their private key (literally the only way you can later transfer your asset out, as there is nothing like a "forgot my password" for private keys).
While I can understand a NFT representing something physical, like the title to my Jeep....it appears the NFT acts as a "title" to something digital. But that digital something does not come with any rights or privileges. So if you bought some art you could license it's reproduction. It appears the NFT does not allow you to do that. It seems like an NFT is only valuable to niches where having the original of a digital thing matters.
Yep, and if whoever originated the NFT goes away then the digital thing it represents may also just go away. Many of these are just links to a website (which is centralized making it fundamentally anti-crypto).
So in foxbody land...the 1993 Reef Blue Coupe is somewhat valuable (I sold a vert to buy my Jeep). However, to most people there's no difference at all between a white one painted reef blue and an original reef blue. But to me, and a few thousand(?) others, the difference in value is about double. All else being equal, the original reef blue is worth double...even though the two are indistinguishable (assuming an indistinguishable paint job). So what we are seeing here, if I understand correctly, is that for some people having the original of a digital content matters because it matters to others who think the original matters. Just like to 7+billion people, a 1993 Ford Mustang in reef blue is a slow turd generally suited for trailer trash whereas I think a running one is worth $10K all day.
as someone who is generally aware of Mustangs but has never owned one, why of all combinations is that one worth more? I feel like I've seen plenty (maybe not 93, was it more common in other years?) and that color has never struck me as anything I'd prefer over another. When it comes to a blue Mustang, and I know it was not around in 1993, I would love one in Velocity Blue.
One year only color and for 5.0s with manual transmissions, there were only a few made. So it's a combination of a rare color that was hyped for no reason than being hyped--although some do like it. Similar to emberglo in the 1960s and almond in the early 90s.
if you ever get into Mustangs....it's all about the Marti Report. It's also why I over-obsess about a random gasket or part being a near factory as possible. People drive hundreds of miles for an interior screw that Ford used thread "x" over thread "y" for 200 cars or whatever.
We talked about this at work with some kid that's all into it, and this was the point that I couldn't get past. What the hell are you going to do as the NFT owner of a meme or a digital photo? Does it give you licensing rights? Someone spent almost $600k for an animated gif of a flying poptart cat with a rainbow behind it. I just. Don't. Get it.
Then again I didn't get bitcoin when this dude at work 8 years ago wouldn't shut up about how we should all be snapping it up at $25 or whatever it was... He's probably a millionaire now.
ha, that's crazy.
A Mustang has always been on my bucket list, but their improvements every few years combined with my aversion to eating the first few years of depreciation has always kept me out of one. The reskinned SN95 was a low point in styling IMO and every bodystyle since has been an improvement, then once they came out with the Coyote, there was no way I was gonna buy a modular 4.6 car, so I was gonna wait until 2012's came down in price. Now the 2015+ bodystyle is pure sex and the 5.0 is up to 460-480hp so how can I buy a 2012 with a measly 412hp?
Jeeps have only gotten worse since 2006, so there's no drive to have a newer one.
Agreed, I will engine swap mine when the time comes instead of getting a JL.
Ummm.... WTF is an NFT?
Essentially digital art. You're hoping that whatever it's tied to makes it go up in value and you can eventually sell for a profit.
Ummm.... WTF is an NFT?
Non Fungible Token
A non-fungible token is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership. The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded
Gretta got herself arrested recently.
https://www.cnbc.com/2023/01/17/gre...e-protest-will-be-freed-later-police-say.html
She looks pretty happy. Probably thinking about all the money she will get from filing a lawsuit.
https://www.cnbc.com/2023/01/17/gre...e-protest-will-be-freed-later-police-say.html
She looks pretty happy. Probably thinking about all the money she will get from filing a lawsuit.
Gretta got herself arrested recently.
https://www.cnbc.com/2023/01/17/gre...e-protest-will-be-freed-later-police-say.html
She looks pretty happy. Probably thinking about all the money she will get from filing a lawsuit.
View attachment 396361
She staged it