Oh, it’s gonna be so much worse. NFTs mostly just ruined sad crypto bros who were dumb enough to buy a picture of an ape. Companies are investing heavily in generative AI projects without establishing a proper use case or even its basic efficacy. ChatGPTs newest iterations are getting worse; no one has a solution to hallucinations; the energy costs are astronomical; the entire process relies on plagiarism and copyright infringement, and even if you get by all of that, consumers hate it. AI ads are met derision or revulsion, and AI customer service is universally despised.
This isn’t like NFTs. It’s more like Facebook and VR. Sure, VR has its uses, but investing heavily in unnecessary and unwanted VR tools cost Facebook billions. The difference is that when this bubble bursts, instead of just hitting Facebook, this is going to hit every single tech company.
Everyone I know shuts off AI features on their software, yet they keep adding it to more and more software. It’s like the exact opposite of supply and demand.
Oh yeah, it’s gonna be massive. I don’t know if this will be as bad as the subprime mortgage crisis, but it’s gonna come soon, and with all the tariff instability, it’s gonna hit while the economy is already weak. It’s gonna suck.
You do realize nfts were capable of so much more than pictures but because that was the lowest effort use case that’s what the scammers started with, right?
Of course not, you just like shitting on things other people designate as safe to shit on
I have never heard of one realistic and useful plan for NFTs. And I like to be contrarian whenever possible, since I’m kind of a smug prick. Hit me with 'em!
At the very basic level NFTs programatically enact contract law in a perfectly transparent way that cannot be faked
The use cases for this aren’t normally apparent to the average consumer because of habit more than anything. I will give some use cases
A limited access club can mint NFTs for membership, allowing the holders to personally trade their access in a transparent way and provides an encrypted method functionally equivalent to a One Time Pad (One of the most, if not the MOST secure encryption method in existence) so building access can be transferred instantly between rights holders, as well as providing a secure inherent messaging between members
This can also be generalized for apartment access. Need a place to stay? You can purchase the tenant NFT from the current renter, and have access to the property securely within seconds
I use these examples because they are human friendly but the BEST use of NFTs is programatic resource management for automated purchasing systems (which are going to be a FUCKING HUGE THING now that LLMs have got access to the big money), for example:
Lets say a LLM is tasked with constantly sourcing the cheapest source of tin for industrial processes, and that all the tin producers set lots of raw material as NFTs. (In this case it isn’t an ideal use as the lots are not unique, but the underlying programatic contract execution doesn’t care and treats them as unique) so the LLM calculates shipping and price and automatically buys lots of NFTs to match the need, which ship out from a port halfway around the world that afternoon
Now 2 days into the 12 day shipping time, the LLM notices that there is a sudden need for tin closer to the current ship location than the initial destination and contacts the LLM of the company that posted the tin need, and offers the lots of NFTs on the ship, the other LLM agrees and the contract is made, the ownership of those lots are altered, the shipping manifest of the cargo vessel is updated and the shipping route may or may not be altered based on the judgment of the LLM handling the cargo ship. All of this happens in a matter of seconds. Once the transaction is complete, the original LLM now goes and searches for another source of tin
The biggest benefit of NFTs is reducing the friction of complex logistic changes allowing companies to find advantages that pass too quickly for humans to notice or make best use of in a way that can be legally as binding as any other signed contract in a court of law.
There are other benefits and use cases, some silly and some abstract but NFTs are so much more than a link to an png on a file server somewhere but that’s ALL people like you will ever know them for because scammers ruined the name while real devs were still working on useful products.
A limited access club can mint NFTs for membership, allowing the holders to personally trade their access in a transparent way and provides an encrypted method functionally equivalent to a One Time Pad (One of the most, if not the MOST secure encryption method in existence) so building access can be transferred instantly between rights holders, as well as providing a secure inherent messaging between members
You can do this with a database.
This can also be generalized for apartment access. Need a place to stay? You can purchase the tenant NFT from the current renter, and have access to the property securely within seconds
You can do this with a PIN code.
Lets say a LLM is tasked with constantly sourcing the cheapest source of tin for industrial processes, and that all the tin producers set lots of raw material as NFTs. (In this case it isn’t an ideal use as the lots are not unique, but the underlying programatic contract execution doesn’t care and treats them as unique) so the LLM calculates shipping and price and automatically buys lots of NFTs to match the need, which ship out from a port halfway around the world that afternoon
Now 2 days into the 12 day shipping time, the LLM notices that there is a sudden need for tin closer to the current ship location than the initial destination and contacts the LLM of the company that posted the tin need, and offers the lots of NFTs on the ship, the other LLM agrees and the contract is made, the ownership of those lots are altered, the shipping manifest of the cargo vessel is updated and the shipping route may or may not be altered based on the judgment of the LLM handling the cargo ship. All of this happens in a matter of seconds. Once the transaction is complete, the original LLM now goes and searches for another source of tin
You can do this with databases.
The biggest benefit of NFTs is reducing the friction of complex logistic changes allowing companies to find advantages that pass too quickly for humans to notice or make best use of in a way that can be legally as binding as any other signed contract in a court of law.
In any situation where you might be tempted to call an NFT “legally binding”, it’s not the NFT that’s binding, it’s a contract, and the NFT is just a proxy for the contract. The NFT adds no value.
I’m just not sure what utility this has for a traveler. You don’t need NFTs to implement transferrable plane tickets, though this does seem to try to ensure that the airline(?) gets a cut of any sales between passengers. It’s the same pattern every time with NFTs, the only thing they seem to do is complicate matters while attempting to make a market out of thin air and take a cut of any related transactions.
No major US airline allows passengers to transfer tickets, and I don’t think it’s because they lack the technology to do so and NFTs would fill the void. If they did do this and it was possible to buy and sell plane tickets on an open blockchain based market, couldn’t one just buy all of the tickets for popular flights and sell them at a markup?
You know a guy who first saw the new fangled automobiles once said ‘That’s all well and good, but where do you attach the horse?’
You don’t NEED the internet, or digital transactions, or credit cards, or any of the other dozens of technological advancements in wealth management that have come about since the 50s either but they exist and make everyone’s lives easier
Tickets as NFTs are a great idea because it absolutely prevents overbooking. Did you ever even consider that? Can’t mint more NFTs than the plane has seats
interesting, around here we do it with numbered seats. if you give each seat a specific number turns out you can match that with numbered tickets. somehow airlines don’t make tickets with numbers that don’t match with any seats. insane tech.
way to miss the point. literally everyone knows that they overbook. that’s not because they’re not using nfts. it’s because they want to overbook. you said nfts would prevent overbooking. I say you can just prevent overbooking by not overbooking. it has nothing to do with nfts.
You know a guy who first saw the new fangled automobiles once said ‘That’s all well and good, but where do you attach the horse?’
Sure, but this is not a positive argument for your position. This does not mean that everything with doubters is, in fact, good and misunderstood.
Tickets as NFTs are a great idea because it absolutely prevents overbooking. Did you ever even consider that? Can’t mint more NFTs than the plane has seats
You can prevent overbooking without blockchain/NFTs. Airlines overbook because they want to, and presumably they would still want to do so if they adopted NFT tickets. There is nothing about using blockchain that would prevent this, they would just mint more NFTs than there are seats for each flight with the hope/expectation that a few ticket holders would not show up.
Sure, but this is not a positive argument for your position.
So now you’re just going to discount the time I spent setting you up several use cases?
You can prevent overbooking without blockchain/NFTs. Airlines overbook because they want to,
And the reason for their overbooking, maximum profit, would be achieved seamlessly with a blockchain based ticketing system as there is no human input lag that causes double booking
You keep arguing that there are other ways of doing the things that the programatic nature of NFT contracts offer but NONE of them provide it all in one ridiculously transparent, unfalsifiable open source way that can be literally implemented on every platform
That’s why I used the car and the horse example, you are the one saying: “Yes we already have horses already, why do we need a car? And how would a horse even USE a car you silly billy?”
The really sad thing is I’m waiting for a moment of realization from you that it is blatantly clear you are incapable of achieving. Pretending to be open minded is intellectually dishonest
So now you’re just going to discount the time I spent setting you up several use cases?
I didn’t thoughtlessly discount anything, I’m just saying that while “some people didn’t see how cars could be useful” is true, it does not mean that everything that has doubters is actually a misunderstood wonder. Plenty of things with fervent true believers that have been supposed to change everything were, in fact, duds.
And the reason for their overbooking, maximum profit, would be achieved seamlessly with a blockchain based ticketing system as there is no human input lag that causes double booking
Human input lag is not generally the cause of overbooking. The overbooking is intentional. NFTs have no unique ability to prevent it. This is not a tech problem, and so it cannot be solved by tech. I’m open to the possibility that airline tickets are just a bad example, of course, and it wasn’t even an example you presented.
You keep arguing that there are other ways of doing the things that the programatic nature of NFT contracts offer but NONE of them provide it all in one ridiculously transparent, unfalsifiable open source way that can be literally implemented on every platform
This is all rather vague. The benefits are not obvious, so you need to be more specific.
That’s why I used the car and the horse example, you are the one saying: “Yes we already have horses already, why do we need a car? And how would a horse even USE a car you silly billy?”
You might be the one who is saying “the hyperloop will change travel forever!” Everything you’re writing seems like vague motivated reasoning presupposing that NFTs are the solution to problems that you don’t even seem to understand.
The really sad thing is I’m waiting for a moment of realization from you that it is blatantly clear you are incapable of achieving. Pretending to be open minded is intellectually dishonest
Yeah, I heard about most of the supposed uses in the 10 paragraphs you wrote. Anyway, since none of those came to pass, and instead a bunch or people went bankrupt buying pictures of monkeys, I’d say the usefulness of NFTs has been determined.
Oh, it’s gonna be so much worse. NFTs mostly just ruined sad crypto bros who were dumb enough to buy a picture of an ape. Companies are investing heavily in generative AI projects without establishing a proper use case or even its basic efficacy. ChatGPTs newest iterations are getting worse; no one has a solution to hallucinations; the energy costs are astronomical; the entire process relies on plagiarism and copyright infringement, and even if you get by all of that, consumers hate it. AI ads are met derision or revulsion, and AI customer service is universally despised.
This isn’t like NFTs. It’s more like Facebook and VR. Sure, VR has its uses, but investing heavily in unnecessary and unwanted VR tools cost Facebook billions. The difference is that when this bubble bursts, instead of just hitting Facebook, this is going to hit every single tech company.
It so bad and its so pervasive. The only thing I can even equate it to is a forced meme.
Everyone I know shuts off AI features on their software, yet they keep adding it to more and more software. It’s like the exact opposite of supply and demand.
My favorite was the security tools with their new AI data protection features. “We scan your data and put it in AI to keep it safe from AI!”
and institutional investors who steward pleb money… so its going hurt real.
Oh yeah, it’s gonna be massive. I don’t know if this will be as bad as the subprime mortgage crisis, but it’s gonna come soon, and with all the tariff instability, it’s gonna hit while the economy is already weak. It’s gonna suck.
You do realize nfts were capable of so much more than pictures but because that was the lowest effort use case that’s what the scammers started with, right?
Of course not, you just like shitting on things other people designate as safe to shit on
yeah if only the scammers could utilize the full potential of nfts lol
Why would they? They found a low energy and resource thing and never bothered looking deeper, just like all of you.
Here are some legit NFT use cases I posted earlier
https://lemmy.world/post/28250192/16471199
I have never heard of one realistic and useful plan for NFTs. And I like to be contrarian whenever possible, since I’m kind of a smug prick. Hit me with 'em!
At the very basic level NFTs programatically enact contract law in a perfectly transparent way that cannot be faked
The use cases for this aren’t normally apparent to the average consumer because of habit more than anything. I will give some use cases
A limited access club can mint NFTs for membership, allowing the holders to personally trade their access in a transparent way and provides an encrypted method functionally equivalent to a One Time Pad (One of the most, if not the MOST secure encryption method in existence) so building access can be transferred instantly between rights holders, as well as providing a secure inherent messaging between members
This can also be generalized for apartment access. Need a place to stay? You can purchase the tenant NFT from the current renter, and have access to the property securely within seconds
I use these examples because they are human friendly but the BEST use of NFTs is programatic resource management for automated purchasing systems (which are going to be a FUCKING HUGE THING now that LLMs have got access to the big money), for example:
Lets say a LLM is tasked with constantly sourcing the cheapest source of tin for industrial processes, and that all the tin producers set lots of raw material as NFTs. (In this case it isn’t an ideal use as the lots are not unique, but the underlying programatic contract execution doesn’t care and treats them as unique) so the LLM calculates shipping and price and automatically buys lots of NFTs to match the need, which ship out from a port halfway around the world that afternoon
Now 2 days into the 12 day shipping time, the LLM notices that there is a sudden need for tin closer to the current ship location than the initial destination and contacts the LLM of the company that posted the tin need, and offers the lots of NFTs on the ship, the other LLM agrees and the contract is made, the ownership of those lots are altered, the shipping manifest of the cargo vessel is updated and the shipping route may or may not be altered based on the judgment of the LLM handling the cargo ship. All of this happens in a matter of seconds. Once the transaction is complete, the original LLM now goes and searches for another source of tin
The biggest benefit of NFTs is reducing the friction of complex logistic changes allowing companies to find advantages that pass too quickly for humans to notice or make best use of in a way that can be legally as binding as any other signed contract in a court of law.
There are other benefits and use cases, some silly and some abstract but NFTs are so much more than a link to an png on a file server somewhere but that’s ALL people like you will ever know them for because scammers ruined the name while real devs were still working on useful products.
You can do this with a database.
You can do this with a PIN code.
You can do this with databases.
In any situation where you might be tempted to call an NFT “legally binding”, it’s not the NFT that’s binding, it’s a contract, and the NFT is just a proxy for the contract. The NFT adds no value.
https://nes-tech.medium.com/argentinian-carrier-flybondi-leads-the-way-with-nft-tickets-92da146db296
I’m just not sure what utility this has for a traveler. You don’t need NFTs to implement transferrable plane tickets, though this does seem to try to ensure that the airline(?) gets a cut of any sales between passengers. It’s the same pattern every time with NFTs, the only thing they seem to do is complicate matters while attempting to make a market out of thin air and take a cut of any related transactions.
No major US airline allows passengers to transfer tickets, and I don’t think it’s because they lack the technology to do so and NFTs would fill the void. If they did do this and it was possible to buy and sell plane tickets on an open blockchain based market, couldn’t one just buy all of the tickets for popular flights and sell them at a markup?
You know a guy who first saw the new fangled automobiles once said ‘That’s all well and good, but where do you attach the horse?’
You don’t NEED the internet, or digital transactions, or credit cards, or any of the other dozens of technological advancements in wealth management that have come about since the 50s either but they exist and make everyone’s lives easier
Tickets as NFTs are a great idea because it absolutely prevents overbooking. Did you ever even consider that? Can’t mint more NFTs than the plane has seats
interesting, around here we do it with numbered seats. if you give each seat a specific number turns out you can match that with numbered tickets. somehow airlines don’t make tickets with numbers that don’t match with any seats. insane tech.
How magnificently naive if you think that’s how it happens nowadays…
https://www.getgoing.com/blog/why-do-airlines-overbook/
way to miss the point. literally everyone knows that they overbook. that’s not because they’re not using nfts. it’s because they want to overbook. you said nfts would prevent overbooking. I say you can just prevent overbooking by not overbooking. it has nothing to do with nfts.
Sure, but this is not a positive argument for your position. This does not mean that everything with doubters is, in fact, good and misunderstood.
You can prevent overbooking without blockchain/NFTs. Airlines overbook because they want to, and presumably they would still want to do so if they adopted NFT tickets. There is nothing about using blockchain that would prevent this, they would just mint more NFTs than there are seats for each flight with the hope/expectation that a few ticket holders would not show up.
So now you’re just going to discount the time I spent setting you up several use cases?
And the reason for their overbooking, maximum profit, would be achieved seamlessly with a blockchain based ticketing system as there is no human input lag that causes double booking
You keep arguing that there are other ways of doing the things that the programatic nature of NFT contracts offer but NONE of them provide it all in one ridiculously transparent, unfalsifiable open source way that can be literally implemented on every platform
That’s why I used the car and the horse example, you are the one saying: “Yes we already have horses already, why do we need a car? And how would a horse even USE a car you silly billy?”
The really sad thing is I’m waiting for a moment of realization from you that it is blatantly clear you are incapable of achieving. Pretending to be open minded is intellectually dishonest
I didn’t thoughtlessly discount anything, I’m just saying that while “some people didn’t see how cars could be useful” is true, it does not mean that everything that has doubters is actually a misunderstood wonder. Plenty of things with fervent true believers that have been supposed to change everything were, in fact, duds.
Human input lag is not generally the cause of overbooking. The overbooking is intentional. NFTs have no unique ability to prevent it. This is not a tech problem, and so it cannot be solved by tech. I’m open to the possibility that airline tickets are just a bad example, of course, and it wasn’t even an example you presented.
This is all rather vague. The benefits are not obvious, so you need to be more specific.
You might be the one who is saying “the hyperloop will change travel forever!” Everything you’re writing seems like vague motivated reasoning presupposing that NFTs are the solution to problems that you don’t even seem to understand.
😏
I’m not sure the fact that NFTs are used by the third worst airline in the world, which the Argentinian government just fined $300K for excessive cancelations, is actually a plus for NFTs.
The most be something I don’t understand. Why would I buy flight tickets from a third party? Is there a market for this?
If you book through a travel agency or website, you are already buying 3rd party
NFTs would prevent 3rd parties from overselling flights (this is a big problem actually and is borderline fraud)
Yeah, I heard about most of the supposed uses in the 10 paragraphs you wrote. Anyway, since none of those came to pass, and instead a bunch or people went bankrupt buying pictures of monkeys, I’d say the usefulness of NFTs has been determined.