NFT images

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simon_byng
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NFT images

Post by simon_byng »

Has anyone had any experience of this type of format ? if so do you think it is worth investing in , there seem to be so many if's and buts , it's a gamble of course but I'm not sure of this at the moment. Crypto currencies and the blockchain method is a bit of a minefield.
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Ian_Ellery
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Re: NFT images

Post by Ian_Ellery »

NFTs worry me terribly.
I have so many things I could make into NFTs but the environmental damage they appear to cause makes it really not worth it (in my opinion).

https://www.theatlantic.com/ideas/archi ... ke/618488/
If you are the smartest person in the room, then you are in the wrong room. Confucius
simon_byng
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Re: NFT images

Post by simon_byng »

Exactly , that is what 'm trying to find out , is it the future or just a scam , perhaps it can help us if we own he original. that where I am struggling to understand this system.
Rupert Besley
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Re: NFT images

Post by Rupert Besley »

Blimey, that was hard work. My brain aches.

I'm way behind the field on anything to do with computers, let alone crypto-art or crypto-currencies. So I thought I'd try and catch up a bit via the articles kindly linked above. I'm little the wiser, as I really don't have sufficient understanding of the processes involved or language used to describe them. But, if I haven't a clue what I'm talking about here, I came away certain that the authors of the 2 pieces I struggled through did. Anil Dash, CEO of Glitch, & coder Everest Pipkin (what names, eh, though I'm hardly one in a position to pass such a comment) have considerable expertise and experience in such matters.

From them I picked up that this is the kind of scam where those in at the start get mightily rich at the expense of those who come later to the ball. Reference was made to pyramid selling and Ponzi schemes. What bothered me more was the mind-blowing amounts of power consumed for the system to work. I can't envisage any circumstances in which I would find myself entangled in such a set-up, but from the sidelines I reckon this is the kind of operation that right now the world needs like a hole in the head.

Ian's comment above, a great deal more succinct than mine, says it all.
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