Are they trying to say that NFTs are some kind of bullshit scam that should have dissolved into the ether like the crypto bro’s cocaine-fueled manic state that spawned them in the first place? How shocking and unpredictable.
What do you mean? You didnt go out and spend all your money on reproducable jpegs? Whats wrong with you?
reproducable jpegs? Excuse me?
I live walking distance from my local police department. If another person uses my NFT without my consent I will report them immediately. This is MY PROPERTY. The transaction has be verified scientifically on the block chain. Anyone who violates my NFT rights will pay the price.
Buddy, you have no idea who you are messing with. I have made a ridiculous amount of money in crypto/NFTs and I have the best lawyers. If you don’t delete those stolen jpegs, you’re going to regret it. When you steal someone’s property you get punished. Watch out.
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I do love how genuine you are when replying to this shitpost
Bless his kind soul. He doesn’t deserve the downvotes.
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woosh
LOL no kidding
You can’t file for copyright registration for something you didn’t create unless the creator explicitly signed over copyright ownership rights to you (and most NFTs do not)
Stares in Poe’s Law.
I mortgaged my house for a computer-generated ape that my son’s cousin’s uncle’s neighbor’s mailman said would one day finance my retirement.
It will, it will. Any day now, you’ll see! My kid told me the same thing, and his favorite streamer wouldn’t just say anything for money, would he?
I spent all my money on a chance to get a certain jpg.
So the guy on Reddit who told me I better get with the NFT game or be left behind in a year was full of shit?
The whole “web3” bs has always just been a shabby scam, and people fell for it
Did they though? It might be my filter bubble, but whenever I saw web3 being pushed I saw a small refraction of responses of people who also thought it was a great idea (typical salesbros - so a good idea for others to do, just not for themselves). But the vast majority of people reject it for being a scam.
So how many people fell for it, really?
Did the average person/average internet user fall for it? No.
Did the people who fell for it get sucked into what was basically a cult that sucked the money out of a decent amount of people? Yeah.
The numbers for some of these scam projects were honestly insane.
Ah, probably my filter bubble then.
I’d like to read more about this, do you know of any specific cases?
If you have time, I would suggest CoffeeZilla on YouTube. He basically just get into crypto scam, which isn’t hard to find these days. One specific case I would look at is the influencers taking on pretty much any scam projects to get money. The series is with Oompaville. A great watch.
I don’t think it’s even possible to calculate how much real money was lost to this stuff.
Yeah, I have only a little sympathy for the people who got pulled into the get rich quick scheme, particularly younger people who hit some money only to get caught in what was basically a gambling addiction.
I have way more sympathy for their friends and family who either tried to financially support them when they hit rock bottom, or those who got scammed or stolen from just to pump more money into this bubble.
More than 0, which is all the comment said.
If we’re just going for semantics, don’t you mean more than 1 for them to qualify as “people”?
Damn it lol
Have a good weekend ;)
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I thought the whole point of NFTs and the blockchain is that it’s decentralized, and you can use “smart contracts” for things like this. How is one company able to decide to change it?
Apparently, smart contracts are not contracts at all… they are friendly suggestions. Unsurprisingly a contract needs a mechanism to enforce it, which makes decentralized contracts redundant at best (as you still need institutions outside of the blockchain to monitor and enforce the contracts), and or worse, completely useless if there is no legal way to enforce them.
The idea behind smart contracts is that they contain code to verify that the contract is fulfilled (that’s the “smart” part of the name).
This of course also means that you can only use it for stuff that happens on the same blockchain, because the contract can’t verify anything outside of that.
Which is why this isn’t relevant for the real world, it’s just eating its own tail.
Yeah I was tempted to add a caveat, it does technically auto executive, but because it needs to interact with the real world it will always run into the oracle problem. The only solution to the oracle problem is courts and tort law, which makes the blockchain contract redundant and unnecessarily expensive.
They can only change it for their instance, but they can’t impact all NFT marketplaces. This is only significant because this company is the largest broker so it will impact more people.
Anyone can set up their own blockchain and build it however they want. Hell, they could make it centralized even.
That’s not the question
The post you replied to was saying, “shouldn’t it be inherent to the entry on the Blockchain, regardless of market”
You’d think it should be, but their contracts never enforced it in code
Fortunately, nothing of actual value was lost. Just fools being parted from their money.
I am ok with this
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It’s broken now? I’d say that’s a bold assumption that it ever worked in the first place.
Edit: to be clear, I mean that it is and always has been an impossible problem. The only reason it ever worked is because some broker company wanted it as a feature, not because anything compelled them to give original artists a cut. And that’s before you consider the question, “but how do you know the NFT was made by the original artist?”
How is this Web3 scam still a thing? I thought I would finally stop hearing it after the crash but it just keeps coming back. The only people who will get rich from this are the scammers themselves.
It’s a mindset. Once you know that the solution is Blockchain, all you need to do is to find a question that fits this answer to get filthily rich.
Casinos are also a known scam, but that hasn’t stopped them.
This is now a recurring feature of tech vaporware. Claiming something that is clearly shit is okay because it does some good, or something that is uselesslt frivolous and speculative will have and important function and use-case in the future.
My condolences to those that have been made fools by this - we all need to keep an eye out for these patterns going forward.
I wanna add: prosecute and sue these thieves. Sue the people who took money to promote these lies. They all deserve to have those ill-gotten funds ripped away.
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OnlyFans
Theres like… less than 1% of the user base who earn “buttloads of money”
Buttloads. Yes.
Not money.
I mean, it was just a joke lol.
Ask Chris Roberts about this, he knows a way.
Who could have seen this coming? Who could have foreseen that all of Web3 was a ponzi scheme that would say anything to get people to pretend hashes on a blockchain is worth 100s of 1000s of dollars. Who? WHO?
It sure sounds like that wasn’t a feature of NFTs, but a feature of OpenSea
This is the best summary I could come up with:
One of the big promises of NFTs was that the artist who originally made them could get a cut every time their piece was resold.
Starting March 2024, those fees will essentially be tips — an optional percentage of a sale price that sellers can choose to give the original artist.
The marketplace will continue enforcing the fees on certain existing collections until March 2024, at which point they’ll become optional on all sales.
Critics say it will hurt small artists and undermines creators’ ability to control their relationship with the people who buy their work.
OpenSea CEO Devin Finzer criticized the fees’ “ineffective, unilateral enforcement” and said that creators will find other ways to monetize their work.
“Our role in this ecosystem is to empower innovation beyond a single use case or business model,” he writes in the blog post announcing that OpenSea will no longer support the ecosystem’s primary business model.
I’m a bot and I’m open source!
pfffffffffffffffff
I want to be sympathetic, but honestly, I’m just not.
Web3 was a mistake from the beginning.
Except people has been stealing art to do NFTs without paying the artists from day 1?
Yeah, I don’t know why people think this is somehow a new problem.
Yeah, wtf do they mean “anymore”? Did they not see a single artist having their stuff copied and put into some blockchain by grifters?
Right click. Save as.
Also note that the ERC721 standard says nothing about royalties. Royaltiew weren’t designed as a “key feature”
It’s not the art that you buy, it’s the “original URL” that belongs to you. You buy a treasure map leading to a princess. It’s your princess, that’s what is says on the napkin, but everyone can fuck her.
Ik the technology is useful, but selling shit I can screen shot is fucking pointless. If you want to buy shit from the artist, just buy their shit.
What you’re buying when you purchase an NFT is a link to a website. That link shows the image. If the link ever breaks because the website goes down or out of business, it’s pretty worthless. I would have thought the implementation would be based on something more enduring like the actual content and not a link.
Storing a full JPEG on the blockchain would be way too expensive. It’s not a bulk data storage system.
There are alternatives like storing a hash of some sort
A hash still isn’t the file itself. I think that the ones that use ipfs even have a hash in the URL.
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That was just many parts of the grift. Also when that feature was very rarely used, it was ironically a regular web 2.0 feature that was pushed between participating centralized MFT marketplaces. You know, because it was never actually decentralized.
