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Thursday, March 18, 2021

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Aleena

An investigation into the technical implementation of NFTs discovered that they are simple JSON documents that contain a uri to a server that hosts the resource. NFTs cannot be altered once created and there is no guarantee that the server hosting will always host the resource.

In fact, there are NFTs that have been sold whose server has dropped the resource already. For more information, check this twitter thread. https://twitter.com/jonty/status/1372163423446917122

sirhc desantis

Best. NWNotes. Evah =^^=

Wagner James Au

Aleena: Yes, that's the thread that I linked to, very important to read before deciding whether or not to jump into this.

Sean R. Lynch

Energy consumption will always be limited by supply and demand, so the energy consumption of blockchains will always be a function of the value of mining vs the price of electricity. If the value of mining somehow gets high enough to cause significant disruptions to electricity supply, we'll have much bigger problems because it'll mean fiat currencies have collapsed.


While I'm pretty skeptical of the long-term value of NFTs in general, virtual worlds seem like a natural fit. NFTs could act like designer labels that cannot be forged.

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Wagner James Au
Wagner James "Hamlet" Au
Dutchie Evergreen Slideshow 29112021
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