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Etterra ,

Just because the suckers that bought them paid millions doesn’t mean that the NFTs are worth millions.

dasgoat ,

I’m worth millions, but I’m paid jack shit :(

thejodie ,

Can’t even read the website, as the third modal, the newsletter modal, refuses to close. Yeesh.

Treczoks ,

There were sufficiently stupid people to pay money for NFTs. They will sufficiently stupid people around to pay the ransom.

the_q ,

Lol “worth”… that word is absolutely meaningless. This chewed gum I have is “worth” $2.7 billion dollars!!!

MargotRobbie ,
@MargotRobbie@lemmy.world avatar

One of the great thing about the AI revolution is that since generating infinite number of unique random (and commonly, bad) pictures of literally anything you can think of takes only seconds, the entire concept of NFT has become completely worthless as it completely destroyed the value-from-scarcity argument. Not that it ever was a good argument to begin with.

dylanTheDeveloper ,
@dylanTheDeveloper@lemmy.world avatar

https://lemmy.world/pictrs/image/5e3fcdca-b8ff-414a-86b8-f1881ee76342.jpeg

Linkerbaan ,
@Linkerbaan@lemmy.world avatar

How do you steal a hyperlink to a jpeg

kent_eh ,

And why should any sane person care if you did?

It’s a digital file. Copies are exactly the same as the original.

DoucheBagMcSwag ,

“Do I look like i know what an NFT is?

I just want a picture of some gaht dang shitposts.”

regdog ,

I never had a jpeg stolen from me.

What a time to be alive.

Kyoyeou ,

No no, they stole the link to a jpeg, careful you will make them angry

Here, take my link to get a feeling

https://slrpnk.net/pictrs/image/db03eae9-a3a9-42df-8cf2-f2aa8bfa2d95.webp

turmacar ,

That’s not just a feeling, that’s something more.

force ,

You better quit yapping before I steal more of your bytes pal, it’ll be the biggest regret of your life

yuki2501 ,
@yuki2501@lemmy.world avatar

“Potential losses”. I get the feeling that NFT owners got bit by the same bug that bit RIAA executives.

Aceticon ,

Another interpretation is that it’s all an insurance scam were something worthless is “stolen by hackers” and then claimed to be worth millions for the insurance claim.

But surely nobody in the “well known as impeccably honest” NFT world would ever do something like that!

I_Has_A_Hat ,

What insurance company would be braindead enough to insure NFTs?

Aceticon ,

It wouldn’t be the first time that somebody who should’ve known better gets taken in by hype.

That said, I agree it’s unlikely.

CileTheSane ,
@CileTheSane@lemmy.ca avatar

“If some idiot wants to pay for it…”

ICastFist ,
@ICastFist@programming.dev avatar

I guess the millions are in the transaction fees

echodot ,

I’m having difficulty with the word “worth”. It appears to be doing an awful lot of heavy lifting

fosforus ,

Did they steal all NFTs?

iamherexD ,
@iamherexD@lemmy.world avatar

That’s crazy.

RIP_Cheems ,
@RIP_Cheems@lemmy.world avatar

Let me get this straight, you can steal an nft but you can’t own an nft?

d3Xt3r ,

You wouldn’t download an NFT…

RIP_Cheems ,
@RIP_Cheems@lemmy.world avatar

Then what would you do with it? Is it purely for clout? “Hey guys, look, I got an image of this monkey.” Yes monkeys are amazing, but you don’t even own the picture, so what’s the point?

deft ,

I mean low key it’s supposed to be a receipt that can’t be copied. The receipt being slapped onto an image is what most associated with NFTs but it’s more just like a code that provides proof of purchase/ownership because you can trace the history on the block chain

merc ,

Except more like a star registry because there’s nothing to say you actually own the image. Other people on other blockchains might also claim that they own the image. Other people on the same blockchain might also claim the exact same image, just at a different URL.

Traister101 ,

It’s a receipt with a link to an image. The image is entirely unrelated to the NFT outside of the link that’s embedded into the NFT

Theharpyeagle ,

The rub here being that you really only own the receipt, it doesn’t confer any legal rights or ensure exclusivity of the content it’s attached to. I get why people uninterested in being part of a PNG are excited about them, but I haven’t personally seen a use case for them that isn’t exploitable or already solved by current technology.

deft ,

Back with GameStop the hope was the ability to sell/trade digital content like games. Because you actually own the digital content and the proof of purchase, closest to digital ownership I’ve seen.

PlayStation out here taking games after people bought them and shit is a strong reason for NFTs imo

Buddahriffic ,

How would NFTs make any difference for Sony losing rights to a game and removing it from their servers? They still know who purchased it from their own records but still removed access entirely.

deft ,

That’s not what’s being said here. Not Sony losing rights to a game, just entirely being unable to provide proof of ownership on digital content.

I’ve had Microsoft do this to me for Minecraft during their transition to owning it where they claimed I didn’t own the game. I had to legitimately email them a picture of a receipt I owned to get my account back. Had I not had that receipt I’d not have the game.

I’ve never had Sony do this but I hear they’ve done this exact thing to people in other ways usually DLCs.

With NFTs there’s a third party undeniable proof of purchase and ownership. It takes that whole side away from the distributor giving power to the consumer.

In a better world I could then sell that NFT and proof of purchase and the company would honor it for the person I sold it to allowing for the resale of digital content.

sukhmel ,

It seems like this would solve the wrong problem with digital ownership. Even now the problem is not how to prove it, the problem is that you have to prove, and also that it’s not ownership

capital ,

right clicks

Agent641 ,

No! I forbid it!

Lanusensei87 ,
@Lanusensei87@lemmy.world avatar

You very much do own an NFT you purchase, what you don’t own is the asset the NFT represents (the shitty RNG generated monkey for example).

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