this post was submitted on 07 Jan 2024
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I thought we were done with web3 nft bs
They're desperate to make it happen because the potential benefits to them are so great that they become blinded by greed.
Don't forget the sunk cost fallacy!
NFTs for just art I'm not sure what's going go happen, but NFTs are never going to go away when they represent an actual useful digital thing like a concert ticket.
The tech and industry just needs to further mature.
But you don't need NFT to make a concert ticket... a barcode or QR with a simple unique number works just as well.
You don't need anything to anything, it's just a theoretical improvement.
No one is hacking your email and stealing the barcode, or figuring out the algorithm and generating fake barcodes. There's no risk that if I sell the barcode to someone else that I also didn't sell it other people as well.
Ticket fraud is huge. (Edit its a multi billion dollar problem)
To then solve those problems you bring in middle men and they charge fees.
Reselling a concert ticket securely (from my perspective, not companies) cost me and the user 5% each. And that's if a service is even offered.
An NFT concert ticket legitimately solves a lot of real problems more efficiently than existing technology.
But ease of use of crypto and transaction fees are still too high to make this a mass market solution. That'll change though.
NFTs are supposed to be cryptographically secure and blockchain-tracked certificates of authenticity for digital goods. “This is a unique original work by so-and-so”. Any duplication wouldn’t have the same hash and thus is not legitimate.
There are plenty of good uses for this if you are of the mindset that digital goods need to be protected and proven as unique and original works. In a proper setup, it would negate the need for DRM and enable the legal sale and trade of digital media/games in the secondary market, by preventing unlawful duplication (piracy). This is beneficial because piracy, as GabeN prophesized, is an issue of service, not price. Consumers are typically willing to pay good money for good entertainment. They do not want to pay good money and find that a game is incomplete or poorly optimized, or to have less product (digital good) for the same price (physical good) (i.e., not being able to re-download after an arbitrary date, not be able to resell, lack of boxart, bonus content, etc).
NFTs do not solve the problem of proof of ownership. Nor can they. If someone steals it from you - whether by trickery, force, or any other means - it's just as lost to you as any other stolen thing, digital or physical. (Not to touch on the fact that NFTs to date have just been URLs to web hosted media, i.e. ridiculously non-unique and insecure.)
Also, your whole paragraph about theoretical NFT replacement for DRM is just describing a different kind of DRM.
You're describing DRM in another form and shape.
DRM is never about consumer rights, it's about taking them away, it's about making sure that the consumer never gets to own a piece of digital media and is always dependent on some online service so it can be revoked and resold. Because it's ok when Disney sells you the same movie 5 times but not if you resell it once, right? 🙄
DRM-free media (such as GOG games) do much more to guarantee continuous ownership than NFT could ever do.
there is absolutely nothing an NFT can do, that we can't already do in a much simpler, less resource heavy, way. nothing.
everything you describe can be done without NFTs and easier. NFT's have zero value.
Absolutely. Seeing that a concert ticket is tied to a venue with limited space, the venue can set how many tickets ought to be available for a show. Ultimately it depends on centralized verification, therefore there is no point in using NFTs for it.