this post was submitted on 20 Aug 2023
1663 points (97.2% liked)
Memes
45130 readers
1466 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I'll just use a small example.. Let's say you have an NFT for a online casino project. Simply holding the nft in your wallet will give you a weekly payout (certain percentage of profits for that week/month)
I use this example because nfts can have many different uses. Another would be gated communities/gated access to online services. Hope that helps it make sense a little
All the examples you give are things that can be done (and are done in practice) without NFTs, and you don’t really explain why using NFTs would be better.
Damn bro, I guess was wrong. Crypto is totally useless. Sorry for second guessing you
Stock ownership also gives you a payout. And yes you can use NFT’s for authorization, but you really don’t need to. That was already possible back in 2005 with some PHP. Although those systems were and still are often centralized and rely on the integrity of the infrastructure and the intentions of the people running it, you can’t host a service on the blockchain. Smart contracts can’t host a site. There still needs to be something in between the blockchain and the client.
I see the potential of a public ledger but most blockchain projects seem to simply use it as a marketing gimmick.