this post was submitted on 17 Aug 2023
557 points (95.7% liked)
Technology
59172 readers
2740 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
NFTs were doomed because of what they are.
Getty, the giant corporate image copywriting company, is essentially selling images with the same intent that NFTs were created for. The only difference is that once the image is sold on Getty, it's actually sold. Finding another copy of the image is nearly impossible. The image then actually has value and most importantly, sole ownership.
I tried to find a photo I saw in a TV show and found they bought it from Getty. That photo is gone from the internet. Aquiring it would mean contacting the TV studio with the cash ready to buy the rights and use of it. They bought it for maybe $30. Buying it from them would be an astronomical price and would take a lot of work. Buying to resell would be a gamble on the shows long-term popularity.
So instead of buying an image outright, owning it forever, and having all control of it's use, you could buy an NFT that anyone can download, claim you own it yet never be able to access the original file, and you don't have any reasonable right to claim copyright. It's just nonsense pump and dump bullshit.
Would I buy a pet rock? No, but that didn't stop people from buying pet rocks.
Buying a pet rock, but the pet rock is somewhere in the ocean.
Like naming a star.