NFTs .... am i missing something?

[Whorty]

I know I'm getting on in years, having my mid life crisis at 51, but what is it with these NFT files? This digital picture has just been sold for £54k yet the 'owner' doesn't even control (own?) the copyright for the image.

So what do they actually get for their money, and why would they want this NFT?

They always seem to be purchased via cryptocurrency, so maybe that's all I need to know ... just another band-wagon to jump on, more emperors new clothes?

Happy to be educated.


https://www.bbc.co.uk/news/world-us-canada-58687070

[SueEllen]

It's not good for the environment.

[tazdevil]

vanished into thin air and unlike Tulips you can't eat doesn't exist

[GJABS]

having my mid life crisis at 51

You're allowed to have more than one

[Whorty]

You're allowed to have more than one

To be honest, I'm enjoying this one so much I don't think I'll need another one

[xoggoth]

Happy to be educated

No point asking an old fart like me.

It's not good for the environment

Quite. They should ban this crypto currency stuff as China have done. Although doubt climate change was their motive.

[d000hg]

It's art... value is entirely in the eye of the purchaser.

Can we sell NFTs of famous posts/threads on CUK, more importantly?

[OwlHoot]

Seems rather a fragile commodity, because you only have to change one pixel of a digital image and a hash function of it will be completely different, unless someone has invented a super-smart translation and clipping and colour-tweaking invariant semantic hashing system.

[vetran]

NFTs .... am i missing something?

- yes the large amounts of cash people are making from it.

Its "art" once you understand the Turner prize you are away!

[vetran]

You're allowed to have more than one

Don't the locals wives won't be safe!