It's basically make-believe real estate. You own some property (a jpg, or whatever) because a deed (a blockchain) says so.
It's absolutely crazy because, a) property is finite while copies of what is essentially just a number can be infinite, and b) your ownership isn't backed by any [government] force.
Of course, when Meta eventually becomes a trans-government authority like Shadowrun predicts megacorps will, I guess that second point will no longer be a thing.
When I started reading your comment, I just thought of those virtual fashion things. Now, I do watch certain... woman-centric youtube channels where they do whacky fun things.
I follow two that recently tried that virtual fashion thing and it's so odd. The creators claim they do this so fashion and designer stuff is more accessible for people with less money, who can't buy those things. But even virtually, they cost a lot of money. It's not like 5 bucks so you have virtual Gucci.
NFT's are simple to understand. Picture an enthusiast collector of some franchise. That person would be interested in officially "owning" a digital piece of his interests. If other people also care, there's a market value. If nobody else cares, the collector is still happy. In this sense, there can be value to NFT's.
Because of the crypto craze, NFT's have bloated into a silly and temporary demand bubble, where people will buy truly pointless things because it's in vogue. However, people buying randomly generated nonsense doesn't mean there isn't value to be found in official artwork by certain people.
The metaverse might work if it's an escape from feminist bullshit IRL, but given someone's already been accused of harassment in the Meta beta test, I think they'll ruin that just as easily as the real world.
It's basically make-believe real estate. You own some property (a jpg, or whatever) because a deed (a blockchain) says so.
It's absolutely crazy because, a) property is finite while copies of what is essentially just a number can be infinite, and b) your ownership isn't backed by any [government] force.
Of course, when Meta eventually becomes a trans-government authority like Shadowrun predicts megacorps will, I guess that second point will no longer be a thing.
I wonder if those "Own a Star!" companies have gotten on the NFT bandwagon yet.
Becomes? A little late, chummer.
When I started reading your comment, I just thought of those virtual fashion things. Now, I do watch certain... woman-centric youtube channels where they do whacky fun things.
I follow two that recently tried that virtual fashion thing and it's so odd. The creators claim they do this so fashion and designer stuff is more accessible for people with less money, who can't buy those things. But even virtually, they cost a lot of money. It's not like 5 bucks so you have virtual Gucci.
NFT's are simple to understand. Picture an enthusiast collector of some franchise. That person would be interested in officially "owning" a digital piece of his interests. If other people also care, there's a market value. If nobody else cares, the collector is still happy. In this sense, there can be value to NFT's.
Because of the crypto craze, NFT's have bloated into a silly and temporary demand bubble, where people will buy truly pointless things because it's in vogue. However, people buying randomly generated nonsense doesn't mean there isn't value to be found in official artwork by certain people.
The metaverse might work if it's an escape from feminist bullshit IRL, but given someone's already been accused of harassment in the Meta beta test, I think they'll ruin that just as easily as the real world.
Yeah I can't imagine it being anything other than a heavily steralized environment.