NFTs are not meant for physical items, they’re digital certificates.
People literally burnt a Banksy painting before auctioning its NFT.
People literally burnt a Banksy painting before auctioning its NFT.
Since there’s nothing to own or even point to, what’s stopping a second party from claiming they actually have the original Banksy NFT and selling their own? Just the time stamps on the blockchain?
What a miserable destruction of real art to profit on a trading frenzy.
If the owners of the Banksy came out a few days later and claimed that someone else sold a fake Banksy NFT, but they're now going to sell the real NFT, the private keys won't help.
Only Banksy can mint an NFT for his artwork for it to be of ANY value. The same way that only Banksy can create Banksy art.
Public-private key encryption is how you verify that something was signed by the original author.
This can either be a crypto exchange (regulated on conversion to fiat, lest they get shut down by some SEC thing) or on those "vote on the blockchain" or "verified supply chain on the blockchain" things: eventually some non-blockchain entity has to be trusted enough to set state on the blockchain (e.g. "party A did indeed fulfill the contract to party B. please fulfill this smart contract", or "your food ingredient was prepared in accordance to your green/bio label's requirements").
NFTs sold on other chains are akin to copies of the Mona Lisa: worthless
There seem to be ... quite a lot of them.
If there's anything that's not absolute evil in all that, I fail to see it.
Not sure if anyone called that evil or idiotic
Nothing was actually destroyed, and the partially shredded artwork was a new artwork in its own right.
I mean aren't works of art exactly NFT in real life. Sometimes they also happen to look pretty to look at seems to be a archiach byproduct.
Look, if it's okay to buy limited edition numbered tins with the feces of an artist for 300k then it means anything goes. I don't understand where all these "Destroyed with Facts and Logic" people are coming from.
Its clown world out there already. Maybe, you're just too old to like the new clowns. Nothing wrong about that.
NFTs are no longer original and so are not art.
If people want to expend their own resources on NFTs, that's entirely their right to do so, and calling it evil because the process consumed energy is absurd.
If you have a problem with CO2 emission, by all means advocate for laws requiring energy production to not emit CO2 as a by-product. But to single out some non-essential activity that you personally don't like because of the imagined motives of those behind it, while ignoring every other non-essential activity that uses energy, is disingenuous and irresponsible.
I recently saw Twitter thread where a big pusher of NFTs was moaning on about how the real issue is we didn't create enough nuclear power plants and now we're blaming NFTs for this.
It's blatantly obvious that this is all a pyramid scheme capitalizing on people's complete ignorance and optimism with crypto. Enjoy your pyramid scheme and I hope you make out like a bandit and eventually develop a conscience for the people you're grifting.
I think he or she is saying that "climate change" is a ridiculously hyperbolic attack vector. And they're right. Of all the idiotic aspects there are to NFT's, Ethereum energy consumption may not crack the Top 100.
You're obviously getting overly emotional, and throwing whatever you can at the people involved in cryptocurrency ("they're evil for using energy") to see what sticks.
I reiterate, it's a reckless and disingenuous way to conduct oneself, regardless of whether the underlying grievances motivating the hostility have merit.