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Chaosium Suspends NFT Plans
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<blockquote data-quote="Ovinomancer" data-source="post: 8549520" data-attributes="member: 16814"><p>Largely agree. However, some NFTs are being used for more than just speculative vehicles. BAYC (Bored Ape Yacht Club) is being used as an access token to real life social events and to online social spaces. Same with a few others. Some other NFTs are tied to games, and generate income for those games that can be used to add to the games. The thing with NFTs is that they allow you to attach a snippet of something -- this can be code, or in many cases, a URL pointer. URL pointers are just terrible -- you don't control anything and if the host moves then the URL goes dead, so you have the NFT but the link it tokenizes is dead. But it can be more, and sometimes that more can be useful. I've yet to see anything done I'd consider useful, but the capability exists.</p><p></p><p>So, then, what are NFTs actually for? The monetizing of anything. BAYC and many of the other big NFTs are effectively attempting to monetize social relationships. They're creating vehicles for attaching money to a social relationship, and then the ability to buy and sell that relationship. I think this is horrid. It's not a scam, per se, but it's certainly taking advantage of a lot of psychological quirks and exploits, and then obfuscating that it's doing so. Maybe not "scam" but certainly icky.</p></blockquote><p></p>
[QUOTE="Ovinomancer, post: 8549520, member: 16814"] Largely agree. However, some NFTs are being used for more than just speculative vehicles. BAYC (Bored Ape Yacht Club) is being used as an access token to real life social events and to online social spaces. Same with a few others. Some other NFTs are tied to games, and generate income for those games that can be used to add to the games. The thing with NFTs is that they allow you to attach a snippet of something -- this can be code, or in many cases, a URL pointer. URL pointers are just terrible -- you don't control anything and if the host moves then the URL goes dead, so you have the NFT but the link it tokenizes is dead. But it can be more, and sometimes that more can be useful. I've yet to see anything done I'd consider useful, but the capability exists. So, then, what are NFTs actually for? The monetizing of anything. BAYC and many of the other big NFTs are effectively attempting to monetize social relationships. They're creating vehicles for attaching money to a social relationship, and then the ability to buy and sell that relationship. I think this is horrid. It's not a scam, per se, but it's certainly taking advantage of a lot of psychological quirks and exploits, and then obfuscating that it's doing so. Maybe not "scam" but certainly icky. [/QUOTE]
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