NFTS

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a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids.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.

pretty_officer

Idk I bought algo at $2.09 and im still holding that POS. So probably forever? but but, we have “Afghan Pay”! FIFA NFTS!! “Drone Racing!!”, a sticker on a F1 car!! Who tf in the Middle East would ever consider a digital currency let alone a shitcoin for all their transactions lmfao The CEO spent the budget on her bike club lmfao, algo sucks so bad. Even as a bag holder I don’t care it’s a shitcoin and I hate it.

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.

Background-Paper-686

Catgirl is releasing their own customizable NFTS. It's like the reddit ones except they are anime. They have spent the entire bear market building the ecosystem and brand while other coins decided to rug their investors. Check it out if you want.

AsbestosDude

>nobody wants to develop on cardano False. There are dozens of projects and products being developed and launched. How do you say that there's no development when Defilama lists 30 of them? >nobody uses hydra That's because hydra is something that needs to be run by a project to use it. It's not a L1 solution that can just be added. Projects need to launched and run a hydra head. It's not happening. >eUTXO is notable bad It's simply not because it allows you to do nuanced things that other chains do not to. Transaction splitting, with multiple inputs and outputs for example. Recently a marketplace launched that lets you both loan against an NFT while also listing the NFT for sale simultaneously. Sounds like you just have a poor understanding >Scaling You suddenly changed from Inability to scale to "maybe those will do some difference". Newsflash. NO CHAIN CAN SCALE. ETH gets too expensive, Solana crashes, other chains get drug down and lag, or stop minting blocks. Cardano has been scaling, it continues to scale, and there are L2 solutions coming this year. >Still without a usable product for defi Again, a flat out lie. Easily the most provably false point you've made so far Can you not go to Liqwid, Lenfi, and Levvy to get Loans? Can you not mint and burn stablecoins with COTI? Can you not take on collateralized debt positions with Indigo, minting and burning synthetics? Can you not engage private transactions with Encoins? Can you not yield farm on like 7 different Dexs? Can you not get liquidity bonds on Optim? (and then you can take those bonds and lend against them on liqwid) Can you not Implement automated trading strategies like a box spread on AXO? Can you not DCA and split transactions on Dexhunter (as well as aggregate all cardano DEXs)? Can you not rent NFTs, loan against NFTS, against tokens, borrow staking delegation on fluid? I could keep going. The bottom line is you're full of shit and have no idea what you're talking about.

RiffraffRA

The cheapest L2 transactions The best wallet in crypto Mint, trade NFTS Going to be a multinetwork L3 soon Stake ETH/LRC direct from wallet A great DEX If you can find any real world applications, then you don't know where to look.

PreventableMan

>KEY TAKEAWAYS >Reddit violated the golden rule of NFTS’s. The higher the number the less desirable it is to masses. Speculation decreases followed by engagement. >The only winner is Reddit. Did... did you guys expect reddit, a for profit company looking for juicy IPO, to do this for the community? That is some next level head in the sand moment there.

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.

Single-Frosting6191

Detailed explanation below but for the LAY MAN like myself: Alright, picture the pair that gets gets created when making a SUDO or NFTX pool. You are infusing LIQUIDITY into NFTS, and creating a liquid market. It's ERC-20 wrapping NFTs Now picture that baked into a contract but better. It's BOTH a ERC-721 AND an ERC-20. 🛎More factoids below:🛎 You can transact these on UNISWAP like a token, OR on NFT platforms like an NFT! Any action on chain affects the other side of the machine. Token side, nft side. The price of the token is the floor price of the NFT When BUYING the TOKEN, it mints random unique nfts into your wallet for each 1 token held. Fractions simply don't mint 1 into your wallet. When SELLING the TOKEN, it burns the NFT, they can be reminted later with a higher serial number when it's bought later When BUYING, SELLING, or TRANSFERRING the *NFT*, it KEEPS its unique traits, allowing you to hold them dear, to trade their BEAUTY and SPLENDOR for MORE! If you understand the explanation, you can see why it could be quite promising🧠 The LATEST iteration is #DN404 and is being utilized by our Sprotolady devs to be ahead of the game! Now, SPROTOS are among FIRST MOVERS on this new tech. I love to see it! Naysayers hold your breath, for the Egregore is in its vision. Good luck to the @Sprotolady team on this expedition into the unknown! 💚👽💚 CA: 0x46305B2eBcd92809d5fcEf577C20C28A185Af03c

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

illpoet

I love cardano. It has all the functionality of ethereum but is cheap enough that I can own thousands of them. I absolutely love making cardano NFT's. I think the huge hype/bubble surrounding NFTs really set the medium back because the general public thinks "A failed money making scheme" when you mention NFTS. But in my opinion from an artistic standpoint I think nft's have limitless potential. Artisically I have a few ideas for NFT's but I'd never be able to afford the amount of ethereum I'd need to complete some of the projects. With Cardano Nft's I can make tons without having to make a huge initial investment.

RyanGoslingIcxDream

Another scam and failed idea being brought back up. Also why would anyone want fractional NFTS the market is dead as it is. Useless jpgs.

These_Row_2061

Are NFTS still a big deal in crypto?

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

amplidud

If NFT’s gave any real ownership I would be all for it!  But they dont. The only “Ownership” an NFT gives you is the ability to resell (which you do not NEED NFTS to do). You cant modify. You cant destroy. You cant use for anything but the intended purpose. You cant use in other media that you produce. (Strictly speaking you could use the NFT but not the thing represented by it like a skin). The game company CAN disable the thing represented by your nft.  People selling NFTs are selling you the idea of ownership. Not actual ownership.

crispyJ777

I am a financial advisor in the traditional market, when I advise my clients the first thing I want to find out from my customer is his willingness to take thing. Depending on the risk class, a decision is made as to whether the money is invested in a riskier investment such as a pure equity fund or in a more conservative asset class such as a fixed-term deposit. This can also be broken down to the crypto market. In your case, Bitcoin is the most conservative investment option. Things get riskier with altcoins. The lower the market capitalization, the higher the volatility, although volatility is high in the crypto sector anyway. Personally, I would invest 80% more conservatively. About 50% in Bitcoin and 30% in Ethereum, the rest would go widely in altcoins that have a promising concept. For the current bull run, I would focus on projects on the Solana blockchain, as I personally assume that these will play a major role in the next bull run. Furthermore, I would position myself with a small part in the direction of NFTS because I believe that NFTS are the only way to distinguish real videos from AI-generated videos in the future. Don't invest the entire amount at once, buy little by little to take advantage of the DCA and slowly get a feel for the crypto market. Just my opinion, no advise :) Greetings from Germany

Kay_kay1304

Awesome, awesome awesome. Keep us updated. I only play with shit coins and have learnt a lot. Made a bit of money on the last run. Just to put it all in to NFTS and im planning on swapping my alts for btc and fiat this time round.

SL13PNIR

That's the magic question. What ever you like really, some coded examples (which are also Jupyter Notebooks): * [A Simple Sale of a Token](https://github.com/input-output-hk/real-world-marlowe/blob/main/nfts/simple/ReadMe.ipynb) * [Sale of tokens for Stable Coins](https://github.com/input-output-hk/real-world-marlowe/blob/main/nfts/stable/ReadMe.ipynb) * [A Sale of a Token with Royalties](https://github.com/input-output-hk/real-world-marlowe/blob/main/nfts/royalty/ReadMe.ipynb) * [A Swap of Tokens](https://github.com/input-output-hk/real-world-marlowe/blob/main/nfts/swap/ReadMe.ipynb) * [A Small Airdrop of Tokens](https://github.com/input-output-hk/real-world-marlowe/blob/main/nfts/airdrop/ReadMe.ipynb) * [Several NFTS bundled as a single NFT](https://github.com/input-output-hk/real-world-marlowe/blob/main/nfts/collection/ReadMe.ipynb) * [Shared ownership of an NFT](https://github.com/input-output-hk/real-world-marlowe/blob/main/nfts/shared/ReadMe.ipynb) * [NFT used as collateral for a loan](https://github.com/input-output-hk/real-world-marlowe/blob/main/nfts/collateral/ReadMe.ipynb) * [Pawning a token for a stablecoin](https://github.com/input-output-hk/real-world-marlowe/blob/main/nfts/pawn/ReadMe.ipynb) * [Token sale with an oracle](https://github.com/input-output-hk/real-world-marlowe/blob/main/nfts/oracle/ReadMe.ipynb) * [Auction of an NFT](https://github.com/input-output-hk/real-world-marlowe/blob/main/nfts/auction/ReadMe.ipynb) * [Geo-located smart contract](https://github.com/input-output-hk/real-world-marlowe/blob/main/defi/beamer/ReadMe.ipynb) * [Coupon-Bond Guarantor](https://github.com/input-output-hk/real-world-marlowe/blob/main/realfi/coupon-bond-guaranteed/ReadMe.ipynb) * [ACTUS Principal at Maturity (PAM) Contract](https://github.com/input-output-hk/real-world-marlowe/blob/main/realfi/actus/actus-pam.ipynb)

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Alanski22

Unfortunately yes. I also lucked into the Arbitrum airdrop which was more than $1000 while I basically just did a few transactions with moons. That got me into airdrop farming... unfortunately the more recent airdrops are absolutely farming their users. It's not even to just do a few transactions anymore. You now have to do a shitload of tasks and always be on top of new tasks + NFTS (proof of participation) that are being put up. And since more people are involved, your portion of the prize pool becomes less. For example... something like ZkSync might end up being a 2-3x bigger airdrop than Arbitrum. However if 20-30x more people are farming the airdrop, it means that airdrop is getting diluted 20-30x more than the Arbitrum airdrop, meaning your slice of the pie is smaller. This has been the reality for most airdrops lately since they have become much more mainstream. Wish we were in the game earlier :(. One of the many things I wish /cc had taught me long ago, which it didn't.

Sothisismylifehuh

Pay to participate? NFTs in crypto gaming is speculative. NFTS are rarely utilized for their benefits as a non-fungal token.

Phylaras

That's helpful. I know that wrapping NFTS nullifies royalty schemes too.

socalmikester

no money in NFTS, magic beans, or anything. just here to watch the cargo cult do their stonk market chat, waiting for MOASS because line goes up?

ElectronicResource28

Check out HODL. They are the longest operating rewards crypto in the space. They have a dex Hodlx.exchange, they have NFTS, yield farming, staking, play to earn gaming, betting games, an app already in Google playstore for Android, LOCKED liquidity for over 255 years, 3 million dollar market cap, over 400k in liquidity.... doxxed team, owned by legitimate crypto technology company, perfectly positioned to moon https://hodltoken.net/

ElectronicResource28

Check out HODL. They are the longest operating rewards crypto in the space. They have a dex Hodlx.exchange, they have NFTS, yield farming, staking, play to earn gaming, betting games, an app already in Google playstore for Android, LOCKED liquidity for over 255 years, 3 million dollar market cap, over 400k in liquidity.... doxxed team, owned by legitimate crypto technology company, perfectly positioned to moon https://hodltoken.net/

G_dwin

You can say the same for NFTs, I truly was invested with the concept of NFTS regarding to games. The fact a company can shutdown servers making you lose the items you gathered, invalidating the key of the game you bought never sat right with me. Look at Ubisoft, EA. But it became Art and well... now NFTs are a meme even though many consumers involved in the gaming company continue to rant about the corruption within the industry.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Silent-Win1496

AIDOGE on SOL likes NFTS they are not done 💪

philgustus

NFTS will come back in the bull, particularly Ordinals.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** 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 Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** 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 Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** 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 Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

JustinMurray007

I would disagree, we saw downtime this year from other l1s and l2s, and many blockchains including btc and eth had bugs that were resolved, only luck caught them before anything serious (eth arguably had eth dao hack and eth classic issue also which is different but serious imho) If you think technology and dependability of new tech won't improve over time, you're going to have a bad time. With work at firedancer going towards improving all of crypto, not just Solana, I would say uptime won't be an issue after two fully independent validator clients (downtime in february was bug in validator client software fyi, so would be resolved as having one as fallback) But any scaling issues, we saw Mad Lads, one of the most popular NFT mints of any blockchain happen while Helium was moving their whole L1 infrascture and 100k+ hotspots as NFTS at the same time, no chain slowdown or issues. Show me another chain that does that without getting expensive or slow, or not working in general. Solana is smooth as butter. If you can't provide a better source to measure decentralization, then we're going to have a hard time debating the hard data. I presented data. So you're also conflating things together here, Solana Labs has a CEO, that's a for profit company. Solana Foundation also has a CEO. Both have "headquarters" somewhere, which I assume you mean "offices" That seems standard for any blockchain. Yes tokenomics could be better, but premine doesn't really make sense here, and it's diversified over time as more people use it, and we are now seeing the biggest whale (SBF/FTX) liquidated and being distributed out to repay due to their fraud. This is all good for Solana imho. You're talking about two different things now, holding assets vs using them to transact. Most will likely want to transact in stablecoins like USDC from what I'm seeing in the data. Holding assets is a different game, but if you look at inflows, Solana did more than eth recently - [https://www.theblock.co/post/263805/crypto-funds-inflow-streak-continues-adds-176-million-led-by-bitcoin-solana](https://www.theblock.co/post/263805/crypto-funds-inflow-streak-continues-adds-176-million-led-by-bitcoin-solana)

rgmundo524

I apologize, that came off more hostile than I attended. I believe you are right that a **SIGNIFICANT** portion of the people in the crypto space are here only because "NuMbEr gO Up", but I disagree that most people are, or at least people actually are building/working in this space. However I think you are right that at least the people that buy 100k PFP NFTS are buying it only because "NuMbEr gO Up"

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 Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** 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 Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

ElwinLewis

Sad considering how it began and the discussion that used to surround its potential. Memes and NFTS ruined it

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** 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 Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** 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 Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Saintbrosepher

so many big names getting into NFTS finally. Next week even **Blizzard**, the number 1 video game maker - even elon musk plays diablo 4 - is releasing an NFT/ blockchain game [Warcraft Rumble](https://warcraftrumble.eu) \- ps u can pre register for some cool shit like a title/nft/companion and the bull market is just getting resumed imagine what happens when we reach ATH and all corporations are coming in again

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 Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

ZephiraNET

yeah not a lot of people know about the 72M eth premine. Vitalik (and friends) had complete control from the start. also when ETH1.0 was released (the proof of work version) it was also already decided that it would later move to proof of stake. So the 72M vitalik premined and distributed according to his will would become the majority stake holder. ​ It is als why Vitalik hard forked ETH after the DAO hack happened. as now an unknown actor was in control of a big amount of the stake. ​ most things you can do on ETH is just shittoken swapping. and its not even cross platform. DEFI is a meme too. yea h are right. NFTS are also a meme. especially ETH NFTS.

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 Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Professional-Monk811

Whats everyone's thoughts on Reddit NFTS and where they could be heading?

R4ID

> by that i mean how does XRP generate value. much like the rest of the crypto industry, value is derived from Utility provided and speculation on future utility. > for example ETH generates fees using gas even from tokens created on its blockchain but XRP has almost no fees and theres no mining and its value is completely relient on how much people are holding at the moment Every single transaction burns XRP. XRP will soon have Automated market maker feature (like within 1-3 months soon) XRP has NFTS, and smart contracts as well as side chains. Token issuances and the DEX were invented by XRP after all years before ETH was created. >and how much volume is being transacted doesnt help the price. it directly affects the price because more volume = more demand. demand drives price due to fixed /deflationary supply. >also there are a lot of good competitors like XLM or LTC or a CBDC. How many are as cheap, fast, scalable as XRP with smart contracts, NFTS and an AMM feature?

Impossible-Injury932

Yeah Trust wallet loads me with shit airdrops and NFTS.

Impossible-Injury932

No i got it but quality family time with the riskiest , risk on asset is gold.I have bought NFTS to donate to artist basically under $10USD.

Soberdonkey69

Buy NFTS.

One_Pause6446

NFTS.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

hungry-father

I think this is the only case I'm all in for the use of NFTS! Great stuff!

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.

Objective_Digit

>A lie. The DAO HF was decided by everyone. >Ether: 3964516.72178130761881221 https://web.archive.org/web/20161224091248/http://www.carbonvote.com/ That's 6%. >There is far more effort in developing a groundbreaking new protocol How is it groundbreaking when you're leeching off Bitcoin in every respect? From the ICO (Bitcoin used) to the infrastructure and technology that Bitcoin paved the way for? Smart contracts, L2, NFTS (under other names), and of course blockchain all originated on Bitcoin. Again, who's paying the BitTorrent people? A far more useful tech than Ethereum. >More arbitrary determination of what is right and wrong to support your anti-decentralization government shilling agenda. What a bloody stupid answer. The DAO was hacked. Ethereum was untouched. And yet Ethereum was censored. >Obviously ETH classic was not supported by a significant share of users, which validates my point. They followed Buterin, and the money rather than adhering to the principles of censorship resistance and no bailouts. "Decentralized" my eye. >Relative to today's ETH economy, it was extremely small. It makes no difference. Censorship is censorship. >I suggested you're secretly a fan of fascism. This is the stupidest thing you've said. You sound like Putin. Accusing others of fascism whilst invading sovereign nations. Ethereum is an overrated centralized shitcoin. I hope it's clear from that where I stand.

Unavailablewith

NFTS are also still being created, people really like selling something that almost cost nothing and sell them for a fortune.

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.

ScienceFreak11

I would like to see the gas fees when NFTS have another bull run

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 Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** 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 Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Omnomnomnivor3

a MOONS marketplace for NFTS and not just Snoo Avatars maybe?

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.

possum-willow

my gut tells me that 99% of NFTS are dead and will likely never come back anything close to the hype days of 2021. Feels like a relic of a bygone era.

Jonashaahr

If the bear market stretches longer, these NFTS will surely be gone for good

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Omnomnomnivor3

I'm one of those as well and I'm in no way holding anything valuable anymore to even shill it to people, besides coins that burned me when the Bear happened, it's NFTS that hit me hard as well Pudgy became one of the sturdiest brands in the space and I got respect for them and fomo on the part that they have an amazing community even the Big builders out there are long holders and believers of their projects, even saw the leader of Layerzero and his team just loving their Penguins overall I respect people if they look at NFTs in a bad way but for news like this they should see the broader aspect that it's a good product that will give us good marketing

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** 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.

economist_kinda

This is great. Nice and informative piece of writing. I just have one reservation with NFTs. With NFTS, you think you have $100 worth of NFTs until you try to sell them. Some NFTs will stay listed on the market for many months, and no one is buying them until you realise that the $100 you thought you had is actually $30 only.

MrBlowjangles

IDK but as soon as you see Steve Harvey buy Solana NFTS, GTFO

J17ster

Interesting. I flip NBA topshot NFTS, and there is some fantasty element to it. How liquid is your market though? Liquidity within the NFL/NBA Dapper community is drying up, so even selling is becoming harder and harder.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** 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 Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

gandrewstone

Yes, a big game house has the budget and wants the additional control. With that control comes responsibility though, which after a high profile screwup and suit, even big houses may want to avoid. Crypto NFTS can be exchanged in a pseudo-anon, decentralized, permissionless manner, like my NexaNiftyBot that lets you trade NFTs in Telegram. No KYC needed. Also, note that buying an in-game NFT is not money transmission -- you can accept cards, you are selling a product (game feature access), not a currency. Also, it is much harder for a big hack to happen because there is no concentration of value. But rollbacks actually are possible, in effect. The stolen NFT cannot be returned on-chain (without a special contract to allow that), but disconnecting them from the game is just an easy update.

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 Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

EveliaAvila

I really don't know. NFTS really got a bad rep: 1. Most don't understand what it is; 2. Celebs paying millions for stupid nfts 3. Cheap ugly low-effort companie's NFTS If they succed, it will need a lot of changes which i don't see it happening anytime soon.

qr3ma

I am new here and have a question. Does reddit have any plans to promote moons? Opening moon shop for NFTS or something else?

EveliaAvila

As a die hard pokemon fan, i live for the day to see Pokemon card mixed with NFTS but done correctly. I'd for sure try to collect them all.

SlowpokesEmporium

NFTS are good for rich hype boys that like to flaunt their daddys cash or for sketchy types who are trying to hide their cash and launder it. I cant see any other reason to spend so much on a picture.

Osirustwits

The issue is it is just art. There is little use case behind it. Now projects that use NFTS as memberships or proof of shares are what I am focused on. Few are launching like banterbucks or seats that of revenue and the famous vee friends for membership. Now if you like art then the added COA of blockchain is bonus.

Texasraised420

It just makes sense to see it come to gaming world. Especially as games evolve/VR becomes a bigger thing. People aren’t even willing to have an honest conversation about NFTS. They freak out and start mocking you pointing out Logan Paul and all the crap in the NFT world. They can’t comprehend that the first time this was introduced to society and will continue to evolve and have better uses 10 years from now. Even if that’s not the case, I don’t see many people discussing it that actually understand the underlying technology and where it could possibly go in the future.

ZephiraNET

Well technically you bought a hash the image on ETH NFTS aren't even imbedded into the chain if I'm correct. with bitcoin ordinals it is different if I am not mistaken. though yeah. NFTS is kinda overpriced. always was and still iss in my opinion.

stuballs123445

BUT ..YOU HAVE UNDERSTOOD ..NOT MUCH .!!!@ NFTS CAN BE COOL .. BUT IT WILL ONLY SURVIVE IN THE GAMING COMMUNITY ...IN THE LONG TERM ..you all.buy the very first generation of nfts ....and tht won't last ...

WineMakerBg

There are NFTs and there are NFTS. Reddit Avatars we proudly wear will be remembered as the few NFTs with a use case right from the start.

Previous_Buy2837

NFTS and Metaverse are so yesterday, next run is for the AI coins!

Pristine_Spinach8718

Hé Gary might want to look at these ETF files? No thanks Rob, busy looking into these Stoner Cat NFTS /s…

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Ecstatic-Text-3540

With the help of the software and platform Enjin, developers may control virtual commodities like NFTS and in-game assets on the Ethereum blockchain. Enjin aims to lessen the exorbitant fees and fraud that afflict the transfer of virtual in-game goods and collectibles. https://coins.ph/academy/what-is-enj-enjin-coin/

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.