JPEG

BashCo

I'm glad you chimed in because I was reading that thread yesterday and asking myself, "I wonder what nullc thinks about this drama." I think you're probably correct that those of us who get triggered by on-chain monkey JPEGs may have Streisand'ed those exploitative use cases. People are going to be abusive jerks but aside from high fee periods and slower IBD, Bitcoin has mostly shrugged them off so far. I see it as a tragedy of the commons problem, and while I know it's difficult to stop, we also shouldn't make polluting public resources easier for the polluters. And we shouldn't be looking the other way pretending it isn't happening either. It’s reasonable to push back on wasteful uses without descending into heavy-handed blocking. Bitcoin’s fee mechanism already provides an economic throttle, but perhaps there are ways to strengthen the throttle, like removing the Segwit discount or something to that effect. Advocating for higher fees for odd payloads (like JPEG floods) is a non-coercive lever: it disincentivizes obviously non-transactional spam without anyone judging content. You can simultaneously argue: * "Don’t waste blockspace on nonsense. Let fee markets work." * "I support new, legitimate use-cases even if I don’t fully grasp them yet." That middle path relies on transparent economics rather than ad-hoc censorship. It preserves permissionless innovation while making abuse costly. I've seen little innovation this epoch and mostly just attempts to take bad ideas that failed on altcoins and mirror them to Bitcoin. My growing concern in the long term is the 'enshitification' of the protocol. One way that could happen would be companies leaning on developers to cater to their goofy business models rather than putting the protocol first.

Ch40440

Imagine spending that much money on A FRICKEN JPEG IMAGE 🤣🤣💀💀

Numerous_Ruin_4947

Tell me they can get a copy of the JPEG they bought from somewhere. Or have some of these images been wiped and nobody made a backup anywhere?!

002_timmy

You also clearly don’t understand ownership and how NFTs work. The token representing ownership is still onchain and can be used in a variety of different protocols. Your saved JPEG can’t be

SecretUncle69

People bought in with the crazy and got fucked. The industry wasn’t ready. There weren’t enough projects storing the images in places like ArWeave. Makes no damn sense just to buy a JPEG hosted on the cloud. It’s legitimately against the point of NFTs as images in the first place

InclineDumbbellPress

Bro double lost - both the JPEG and ETH lost value lmao only in crypto

InclineDumbbellPress

The JPEG lost value - and ETH lost value. Max pain minimum gain

yeluapyeroc

*Laundered $69 million with this JPEG FTFY

Able-Poetry9695

why someone buying these JPEG for millions instead he can download it simply from Google images for free

angelafischer

I got now this JPEG on my HDD. And I'm willing to sell...how about $100K ? It's far cheaper. I'm very generous person lol

Niso81

That’s not the JPEG, because the original JPEG you can zoom in and see every actual square in detail so this is nowhere near the same thing.

MezcalDrink

4 years ago today, someone washed with this JPEG $69 million.

financialfreeabroad

4 years ago… some artist sold a JPEG and made $69 MILLION… can you believe it?

Shaami_learner

And someone sold this JPEG for $69 million 💀

nesp12

You mean the JPEG I can copy and paste for free?

Fart_tholomew

Do I look like I know what a JPEG is? I just want a picture of a got dang hot dog!

DeXyDeXy

Huh... I have the EXACT same JPEG on my harddrive. What a coincidence!

OrangeFlavoredPenis

> Open your eyes, do some research The MAGA mantra while doing absolutely none of that. Hilarious. Link me some facts about the good he is doing, no not your aunt posting a JPEG on facebook or some trash twitter post with no evidence.

coinfeeds-bot

tldr; Bitcoin developer Udi Wertheimer tweeted that the world's first real-world purchase made by Bitcoin may have been for a JPEG, not pizza. A screenshot shows a user called Sabunir attempting to sell a picture for 500 Bitcoin on the Bitcoin forum Bitcointalk in 2010. However, the transaction could have been a donation, meaning the sale of the JPEG was never actually conducted. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Pretend-Hippo-8659

This must have passed through JPEG compression more often than there are Bitcoins.

LegendaryJohnny

This. Crypto is like yesterday TikTok trend. Low to average IQ zoomers just don't care about it anymore and look for new cool stuff. New NFTs where they can spend billions for JPEG of monkey or new memes with dog picture.

Pretend-Hippo-8659

It's because of the image quality. It has this "saved a 1000 times through a JPEG compression filter"-quality to it, making it look old and weary.

AS-141

Altcoins worth nothing. Download directly the logo in JPEG format if you really want it, it'll the same and you'll save it for BTC, the only one.

WasKnown

If ETH even hits $5K this cycle, it will be a miracle. BTC, SOL, and even XRP have all hit new ATHs. ETH hasn’t come close. That’s coming from someone with an ETH JPEG as his pfp. Imagine how the true eth haters feel.

RepostSleuthBot

I didn't find any posts that meet the matching requirements for r/Bitcoin. It might be OC, it might not. Things such as JPEG artifacts and cropping may impact the results. [View Search On repostsleuth.com](https://www.repostsleuth.com/search?postId=1h3zqfc&sameSub=false&filterOnlyOlder=true&memeFilter=false&filterDeadMatches=false&targetImageMatch=86&targetImageMemeMatch=96) --- **Scope:** Reddit | **Target Percent:** 86% | **Max Age:** Unlimited | **Searched Images:** 705,151,459 | **Search Time:** 1.92999s

Minus15t

That's exactly the idea. The 'piece' is not the physical representation of the banana on the wall, the auction item is a set of instructions on how to hang the banana, and the certificate of authenticity that says, when the owner places a banana on a wall following the instructions, it IS the art piece 'Comedian' Just like an NFT isn't necessarily the JPEG of a monkey, but rather it's the set of instructions (blockchain) that say it's authentic.

BugmoonGhost

NFT won’t die, it’s is a tech. As long as people want to own digital things they make sense. If second life can have a functioning economy adding a provenance layer on things like games, or providing online mirroring of eg land titles, tickets, passes that are non destructive is a good thing. Sure it’s full of the worst kids of grifters and probably needs regulation but some form of blockchain “non fungible token” makes sense for many uses. Probs not mainly JPEG chimps tho.

ChonsonPapa

Sold to themselves in the hopes some moron buy a monkey JPEG 😂

goldyluckinblokchain

And now you can get pet JPEG rocks too. Some have made more gains in virtual rocks than stocks xD

goldyluckinblokchain

>Funnily enough, he may know as much or just a bit less than the average user here. He's made money off his supporters with his JPEG's and most here haven't made a penny so it's probably the former

outoftownMD

I look back and cannot believe I spend 44K on a JPEG (doodle)

aaaanoon

Still have my collection of JPEG2000 It's gonna go wild soon

LBG-13Sudowoodo

A guy whose face looks like the human equivalent of a JPEG told me to bet it all on Solana, I couldn't tell if he had a straight face.

HODL_monk

I'm going to push back on that logic a bit. Yes, an art reseller COULD later spend more money promoting the artists works, long after you made your purchase, but do you EXPLICITLY EXPECT them to do it, for YOU specifically, when you buy it ? Probably not. You might WANT them to do it, but you don't have a direct expectation of their future work on your behalf, to protect your 'investment'. THIS IS DIFFERENT WITH NFT's. Yes, its just a receipt hash, yes, in reality you own a tiny nothing burger, but most NFT buyers actually expect that their NFT will link to an actual JPG, which someone will keep a server running so it properly displays online, and the link keeps working. Many of them also act like they own the rights to the art as well, and you can see this, when they display the art publicly, like I have seen a physical picture of a Bored Ape, presented on a late night interview show, or reproduce it on a mural, as they have, also of a Bored Ape, in my town. The purchasers clearly have some expectations of work on the seller's behalf, both to maintain the imbedded link, and to have the full use of the art. Some sellers explicitly take a cut of any future sales of the NFT's, making the ownership right in it very different than physical art. NFT's are securities, because they have these security-like features. Of course the SEC provides no clarity, because they like regulating, and would rather sellers keep doing these 'security things', so they can fine them, rather than just spelling out what has to be done so they can be made not securities, because they KNOW that sellers WOULD do those things, if they knew what those things were. This is no way to run a regulatory body, which is why we either need to do away with the SEC, or more explicitly define what they regulate, rather than just throwing it over to the courts, every time a new XRP scam, or a JPEG selling scam, is dumped on the unsuspecting public.

prodshebi

Sounds like market cap is just the crypto version of judging a book by its cover, but the cover is a glittery JPEG and the book is written in hieroglyphics.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Nostalg33k. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Mothrahlurker

An NFT is not a JPEG.

justjoner

We are in the timeline where JPEG images might be classified as a security lmao

80UNC3EBACK

The JPEG wars continue...

LegendaryJohnny

Thank you researchers, I wouldn't know otherwise that JPEG AI generated pixel art sold to some chump for 10000 bucks is now worthless. Your research was very helpful.

rizzobitcoin

Thanks for the examples and the feedback. I'm glad you included \[re: The exact same JPEG that you posted [1 month ago](https://www.reddit.com/r/Bitcoin/comments/1cfw1nf/the_creator_of_gmail_on_the_promise_of_bitcoin_at/) was posted by another account [14 months ago](https://www.reddit.com/r/Bitcoin/comments/1336rlc/gmail_creator_10_years_ago_about_bitcoin/)\] as it's another great example of why I started posting on this sub. The original post appears here: [https://x.com/pete\_rizzo\_/status/1652281774188134400](https://x.com/pete_rizzo_/status/1652281774188134400) Obviously, I'm happy that the post was shared to r/Bitcoin but it seemed obvious that given that other people were posting my content to Reddit that I should probably start doing it myself. Personally, my view is that this should be considered content worthy of watermarking. This is a style of posting older quotes with a high performing image and attractive coloration that I created. I can tell you with certainty that the design matters, as I've A/B tested a number of different visualizations. Surely, the ability to package this content into something that is enticing to share is a form of originality within a social format. Here's another example that I think personally should qualify [https://x.com/pete\_rizzo\_/status/1787098703875985595](https://x.com/pete_rizzo_/status/1787098703875985595) Re: automated posting, I appreciate the suggestion, but really wish it was that simple. Yes, anyone can keep a calendar of dates and events, but can you know which events or facts will be interesting to a particular community at a certain date or time? Which will be best performing? I don't think I'll ever use scheduling as it removes what is the unique value add of this kind of content, which is speaking to the current social sentiment. Trust me, no one wants to gloat over an old Warren Buffet quote when the price is down 15%. Likewise, no one wants an introspective musing about the intellectual integrity of our bitcoin forebears when the price is surging. Yes, some content (like the Gavin example) is perennially performing. I've long since stopped questioning why people like certain things and just resolved myself to try to educate toward the demand. Ideally, if I can maintain underwriting, I'd like to use the $ to create more engaging original content around these bigger events. Here's a recent example of something that was only moderately successful in that direction that had (and I believe should be allowed to keep) the sponsor watermarking (https://www.reddit.com/r/Bitcoin/comments/1cj6427/tomorrow\_is\_hal\_finneys\_68th\_birthday\_a\_true/). Anyway, I think we've made our respective points clear at this point. I've noticed our conversation seems to have inspired some of the other participants in this style to reactivate at any rate. There are probably ways to present this content in a better more reddit native format that satisfies some of your requests, so I'll have to spend some time thinking about it.

BashCo

Thanks! Yes, I ran this by the mod team after I initially asked you about it [11 days ago](https://www.reddit.com/r/Bitcoin/comments/1d0zi3n/gambling_away_100s_of_bitcoin_when_they_were_001/l5qkivs/?context=3), and I received a rough consensus from available mods that it should be addressed. I gather that some were already teetering on banning your account. And I'm confident none of them would have accepted your denial that this is sponsored content. As for not posting duplicative content, I scrolled through your submission history a ways, looked past all the posts that were just screenshots of your own tweets, and found some examples. Gavin visiting the CIA ([1](https://www.reddit.com/r/Bitcoin/comments/1cebx7k/13_years_ago_today_gavin_andresen_an_early/), [2](https://www.reddit.com/r/Bitcoin/search?q=gavin+cia&restrict_sr=on&include_over_18=on&sort=relevance&t=all)) has been posted numerous times over the years, as has Finney's iconic quote ([1](https://www.reddit.com/r/Bitcoin/comments/17v3c3m/hal_finneys_most_iconic_quote_is_31_years_old/), [2](https://www.reddit.com/r/Bitcoin/search?q=computer+tool+liberate&restrict_sr=on&include_over_18=on&sort=relevance&t=all)). This one is curious... The exact same JPEG that you posted [1 month ago](https://www.reddit.com/r/Bitcoin/comments/1cfw1nf/the_creator_of_gmail_on_the_promise_of_bitcoin_at/) was posted by another account [14 months ago](https://www.reddit.com/r/Bitcoin/comments/1336rlc/gmail_creator_10_years_ago_about_bitcoin/). Maybe that guy took the image off your Twitter feed, or vice versa? I saw a couple others in that same format where "bitcoin history" was added later. I don't know their original source, but the information is obviously old. Point is, some of your content is duplicative. Granted, posting things that have already happened makes duplication hard to avoid. >Particularly, your definition of "original content," 90% of the content on this sub is people posting links or images that they themselves did not create. Reposters are a chronic problem on reddit, it's true. And there's certainly a culture of taking memes from elsewhere online and posting them across various subreddits. We definitely remove **a lot** of cruft that gets reposted frequently that you don't ever see (if I see one more [rollercoaster meme](https://www.reddit.com/r/Bitcoin/comments/chbx9d/quick_upvote_this_to_confuse_everyone_into/)...). The difference you're sure to notice is that the vast majority of those posters are not watermarking their posts with company branding and corporate sponsorships. Typically they're just doing it for karma points or because it's "new to them" and they're not financially incentivized like you are. I've already given examples of what is NOT original content (screenshots of old tweets, reddit comments, news headlines). Original content is not derived from, or a replication of existing content. Original content engages the audience by *authentically* addressing current trends, providing new information or entertainment. I think you'll be hard pressed to find *original* historical content given that it already happened. >the content of posted for the last 2 months has been highly upvoted Again, we don't really consider votes when determining the quality or desirability of content. Anyone can buy reddit votes, but the bigger reason is that we wish to avoid succumbing to the fickle whims of reddit's new tictok/instagram demographic who is often chasing a quick dopamine high provided by low-tier content, unconcerned with individual subreddit ethos or culture. So when mods encounter content that isn't in line with the subreddit itself, it's our responsibility to intervene. [Well-Kept Gardens Die By Pacifism](http://lesswrong.com/lw/c1/wellkept_gardens_die_by_pacifism/). Obviously we're not perfect, but it's super easy to criticize a volunteer janitor from an ivory tower. Just tell him he lacks empathy. XD Since we're offering feedback, I'd recommend approaching r/Bitcoin differently than you approach Twitter. Twitter is much more about personalities, whereas reddit is more merit-based. That means checking the ego and entitlement at the door and letting the content speak for itself will serve you better. Don't try to pull one over on the mod team because we've seen just about everything and we have a low tolerance for bullshitters. I appreciate that you speak highly of reddit elsewhere (r/Bitcoin especially) because I think it's a superior format for onboarding and educating than Twitter is. In my experience a lot of the individuals who abandoned reddit did so primarily because they were chasing clout, or trying to leverage the community for their ulterior motives. They're welcome back any time of course, but they shouldn't expect r/Bitcoin to adapt to their personal desires. I know your time is valuable (mine is too), but if posting is too time consuming for you, I'd recommend automating it. It would be pretty straightforward to create a calendar database containing all of your "On This Day" content which includes dates, descriptions, images, etc., and automatically post to relevant platforms and communities. You could even incorporate GPT to generate unique titles. It would be pretty hands-on and might take more time at first, but eventually I think it would streamline things quite a bit.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Nostalg33k. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Nostalg33k. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Nostalg33k. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Nostalg33k. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Nostalg33k. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Agile_Ad7864

Seems like you got it all figured out. Jensen the NVDIA ceo just spoke that RAG is the solution for ai hallucinations, maybe you should contact him with your solution ;) You are incentivized to provide quality knowledge because the more connections it provides in the DKG the more you will be rewarded. Fake or low quality knowledge will not make as many connections in the DKG and thus doesnt rise to the top. Fyi, KG's work through connecting and organizing data into more useful knowledge clusters. To upload data to the DKG your also paying your NFT KA (not related to JPEG in any way :D) uploads with TRAC token so malicious intents require effort and resources. I think there will be more ways to validate the quality of the knowledge created. Feel free to ask questions in the official OT tlgrm, because im just an investor, not a developer :) "why would on earth would I let randoms provide information that I need to authenticate? What problem am I solving?" Well todays ai is providing false information WITHOUT the ability for information provenance, so your kinda left with the option to just believe what it produces. With the DKG backed by immutable blockchain you are now able to verify the sources of the information and make a decision if you trust that source. "Choose your bias" so to say. There is no solution like that available other than the DKG and as far as I know it is the only way to provide this in a world wide scale for all the ai, businesses, organizations etc. to tap into. So imo it is providing a global scale platform or a "global library" for everyone with information provenance and ai ready capabilities :D The DKG is btw blockchain agnostic, so it can be connected on top of every blockchain there is.. Anyways, I suggest you to dig through the deepdive I provided and ask specific questions in tlgrm where there are people far more knowledgeable than I am. Im still in the learning phase of this tech atm :)

Shaglock

It’s just like ETH NFT last cycle. But without having to put in the JPEG and no need to pretend they are arts.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Nostalg33k. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

VoxImperii

Of course. The team are Dick Swapcoin and Bitchelina Wallet, fully doxxed with dog pictures and half a sentence of CV each. They have partnerships with a 20 crypto institution JPEG logos. Big announcements about CoinMarketCap application for listing coming. Buy now or have fun staying poor forever.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

AioliSoggy

Check out the DC Comics nft's. Not a JPEG but a digital version of the comic that you can read.

N_GHTMVRE

Unfortunately you're not early, I was there when it all popped off at the start of 2023 and prices have moved considerably since. I do still believe Ordinals will be huge during the next NFT wave, but at this point I'm obviously biased as this stuff has printed me stupid money. For some perspective, fees were very low back then so minting anything essentially only cost you \~0.50$, meaning Bitcoin Frogs, one of the OG collections is currently up 14 000x, with a peak of 40 000x. The ORDI BRC-20 was minted in batches of 1000, so it's up 140 000x, and even if you paid 10 bucks for fees, you would've turned those into $68k. I doubt there's much more of those opportunities in the space, however it is ever evolving with Runes "mining" being the latest trend. With all that being said though, I do believe many of the OG collections got plenty of room to grow and are probably the safest bet, although the space is inherently risky and everyone getting in now will eventually get dumped on. Those include: Bitcoin Frogs, NodeMonkes, OMB, Bitcoin Wizards, Bitcoin Rocks, Inscribed Pepes (Pseudo) Utility stuff: bitmap, RSIC Copies from other chains: Bitcoin Punks, Ordinal Punks, Bitcoin mfers, etc. Projects with cultural relevance due to pushing the space forward: Quantum Cats, Taproot Wizards (not listed anywhere yet). For BRC-20s it's kind of obvious, ORDI and SATS are the big ones, but there's plenty more, and some come with utlility. My gamble on meme small caps is JPEG and WZRD. Out of the collections above the most undervalued ones seem to be Bitcoin Wizards and Bitcoin mfers, but arguably more risky than the rest. There's of course an infinite amount of collections to choose from. If you're a complete noob, Ordinals are numbered, depending on the time of inscription, lower means earlier - those naturally trade at a premium, although there's a certain threshold at which people don't seem to care anymore whether the inscription number is low or not. Keep in mind that Ordinals have caused BTC network fees to spike massively in the past, it's best to buy while fees are low. Always check [the mempool](https://mempool.space/) and if you want to see the overall Ordinals trend on the network you can check [this Dune dashboard](https://dune.com/dataalways/ordinals). Wallets to use are Xverse, Unisat, Magic Eden, Leather, OKX - be careful downloading your extensions. glhf

0xSnib

I'll always have a special place in my heart for NANO, rode it all the way up from Raiblocks And then all the way down reaching 'Community Manager' bagholder level ​ I fondly enjoy coffee from my NANO mug as a constant reminder to don't baghold (He types still with holding a monkey JPEG)

reed5point0

Sometimes I wonder if I'm still broke because of my JPEG addiction, so I log into OpenSea to see what I got offers wise...I'm still broke but today [I got reminded of the GIF I animated for this subreddit.](https://opensea.io/assets/matic/0x2953399124f0cbb46d2cbacd8a89cf0599974963/103478323489189097612509126553252580695429195705548783342353586771656506867713) Seems like a fitting GIF for the PA today

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Vast_Impression_5326

I’ll take a screenshot of your JPEG if I want too!!

DiarrheaShitLord

Give us more JPEG

identiifiication

I didn't ever expect it. But Nano got JPEG NFTs too. Nyano Cats. The whole experience was pretty neat, so I inevitably got more JPEGs than intended, lol. https://nanswap.com/art/collection/Nyano-Cats?status=listed&sort=askLowToHigh

BashCo

Pretty wild journey from this to promoting JPEG scams.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Nicic

Everyone seems to miss a point, majority of the "crypto games" don't even need a blockchain, seems like they are here for a free ride. Most of them rarely or don't even utilize the blockchain. For a game to be a true crypto game imo it needs to tick at least the basic boxes on what it makes a DECENTRALIZED crypto game (even with the coins people are missing the point of crypto) - First and foremost the whole game needs to be open-sourced, every aspect of it - No company to stand behind it unless its explicitly hired by the DAO, which also hires and funds specific project/game upgrades - The ingame persistent stuff like players items or skins and whatnot since you wont have a centralized database to hold the users data, the game needs to find a way to identify what X person owns, and here's where the blockchain NFT tech becomes handy unlike the NFT JPEG's. After those comes other stuff like, creators economy, interoperability, fork extensions of it, etc.. Failing at least on 1 of these 3 boxes, then its not a crypto game, they (company behind it) can market it as one but its not, its then yet another cash grab

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Perfect_Ability_1190

Editors then work with the pictures, and each successive modification or edit creates a new record in a private database (ProvenDB) that is indexed to the original registration. This allows edit logs to be kept private, but these logs also have their authenticity records registered on the Hedera public ledger. The process continues until publication, where a final version is created and the photo is distributed with all the information about its original time, date, location and blockchain registration now embedded directly into the JPEG file using the C2PA standard.

Embarrassed_Mud190

Encrypting the seed phrase into a JPEG using steganography seems like the most savvy and fairly fool proof way to store a seed phrase securely. As long as the process to extract is easy to remember while also not reproducible by anyone.. I haven’t done this, just thinking out loud.

AmbitiousPhilosopher

It takes a lot of nano transactions to match the size of a single dickbutt JPEG.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Nostalg33k. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

TissueUnflawed

> reputable Most Bitcoin ATM operators are local businesses See the map: http://coinatmradar.com/ > Can I just take a picture of my QR code from my computer screen and scan the picture of that QR code at the machine? Maybe, but you're risking an image quality problem by taking a photo, partly because your camera lens might fuzz the image, and partly because the JPEG image format is bad for blocky images, too much anti-aliasing. Make a copy of the PNG file, save it to your phone If you're patient, you can enter the address using the ATM's touch screen keyboard

catechizer

NFT tech still has potential. It's still relatively new. But yeah, thinking using it for a mere JPEG would create value was a huge stretch.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Nostalg33k. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Perfect_Ability_1190

In our proof of concept, a picture taken by our photojournalist is digitally signed by a Canon camera using a device-specific key at the point of capture and attached to the image, forming the first version of the picture. The authenticated picture's pixels, GPS and other metadata, is sent to the Reuters system directly from the camera and registered onto a public blockchain as well as preserved on two cryptographic archives that use the Filecoin and Storj protocols. Editors then work with the pictures, and each successive modification or edit creates a new record in a private database (ProvenDB) that is indexed to the original registration. This allows edit logs to be kept private, but these logs also have their authenticity records registered on the Hedera public ledger. The process continues until publication, where a final version is created and the photo is distributed with all the information about its original time, date, location and blockchain registration now embedded directly into the JPEG file using the C2PA standard. A news consumer can check the validity of a picture by comparing its hash to the value in the public ledger system. The values should be the same, irrespective of where the consumer retrieves the picture. If they are not, the image has changed since Reuters published the picture, breaking the chain.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Nostalg33k. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Amber_Sam

>Look at memepool.. 500k transactions some from back in June. Show me the transaction waiting since June, lol. Don't make shit up. We had high fees due to JPEG shitcoiners in June but they run out of money pretty soon. I've been consolidating my transactions a couple of months ago, paying 1s/vb. >This is why i said i will be waiting weeks or months. "I will" is missing, that's why you get negative replies.

igadjeed

> Segwit and taproot updates apparently enabled much of the spam transactions we're seeing lately Not true Taproot removed transaction size limits, which allowed larger files (NFT JPEG) to be stored in a single transaction. SegWit allows these to be 3.7MB (with a $400 tx fee) by implementing a 4x favorable weighting for txinput witness scripts But the NFT trash only lasted about 6 weeks, because they caused a fee surge which was higher than the NFT profits The current transaction flood is Ordinals containing 60-byte JSON fragments. These don't require SegWit or Taproot. They even work on Dogecoin, which doesn't have SegWit https://www.okx.com/learn/brc-20 The BRC-20 pump-and-dump scam has higher profits than fees, so it has a longer life than the NFT thing, until it eventually collapses

HospitalNovel2635

Better grab your [MSTR](https://marketchameleon.com/Overview/MSTR/?lu=true&pap_aid=stormofnegativity&pap_cid=11111111) and strap in for the wild ride of the Opium Bird coin launch by YES. Don't miss out on the chance to join the revolution of fusing ERC1155 NFTs and ERC20 coins, and embrace your inner regarded finance guru. DYOR and get ready to fly high with Opium Bird, because this ain't your grandpa's JPEG.

HABU_SR71

As I always say regardless of anything… Each to his or her own! How you read into anything I’ve said is up to you, you just take it or leave it… Fairly simple philosophy. I’m just saying that after I ‘DOYR’ I deduced that the Hedera Network out of all the coins out there has the greatest potential for actual use case in enterprise. That’s all I’m after and bothered about as that is my particular ‘Investment’… Some like ‘APE’ JPEG’s and are down like nearly $4M dollars and some like to get the most out of where they put their money!? Each to his or her own! Hello Future! It’s good to laugh! Haha Take a chill pill and do your own thang DUDE! Haha

HABU_SR71

Come to Hedera and they are $0.000001 haha Greenest fastest safest cheapest blar blar DYOR! Seek the use of the token and its real world worth!! If it has no real world use and worth then it is a Ponzi and traded of pure speculative hopium and nothing else!… Well ok, maybe the odd Monkey JPEG! Haha

Dazzling_Marzipan474

Gambling and JPEG's

TheRealMangokill

Lol OP doesnt know the difference between and NFT and JPEG. You definetly belong here, the least legitimate crypto place on the internet.

After_Sock_3550

This remind me of people using the NFT to withdraw funds from FTX after withdrawals were halted. It was really really strange with some Bahamian companies/people telling you to buy these worthless NFTs that they issued on FTX's NFT marketplace. The thing was that Bahamian citizens could withdraw so they'd make you pay 6-7 figures for a worthless JPEG and then withdraw their(your) funds, take a cut and go on their way.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Nostalg33k. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by Laughingboy14. > NFTs, in their current iteration, are overpriced JPEGs. Currently we have no serious use case of NFTs and they are merely known for JPEGs. Supposedly, NFTs show proof of ownership. However, what they show are you own this token on the blockchain. It does not show, however, that you actually own the rights to that JPEG, because the JPEG could've been uploaded to the blockchain without the original artist's permission. This, combined with the hefty price NFTs command, is a complete waste of money and technology. > > Additionally, a lot of people point to the use case of NFT tickets, such as GET. Yet, the benefits are not evident. Currently, one can have a unique bar code which is attributable to them and does not require the blockchain. On GET's website they mention a number of benefits. These include "digital collectibles" and "ease of integration". However, digital collectibles, i.e. the idea that you can show off you bought a ticket, is the same, tired idea that underlies JPEG NFTs. Additionally, "ease of integration" is not actually an argument for using NFT tickets, as other technology is easy (and perhaps easier) to integrate. It just seems like a gimmick with no real advantages over normal ticketing. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

GBR2021

Money laundering. You have money from illegal enterprises on some fresh wallet, you mint a JPEG, you let that wallet buy that JPEG for 9000 ETH et voila, you have laundered 9000 ETH minus taxes (eventually)

No-Elephant-Dies

BTC Ordinals are not well-liked out here because of clogging the network up. What measures have you guys put in place to prevent a repeat of that? My second question: Someone (who's a big influence in Dogecoin- I'm not mentioning the E word) said the following > The funny thing is the NFT is not even on the blockchain — it’s just a URL to the JPEG. Is Doginals different? How? >a technical breakthrough we call PSDTs (partially signed Dogecoin transactions). Finally, I almost burst out laughing when I misread this as PTSD *(Facepalming).* Cheers!

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Nostalg33k. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Nostalg33k. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.