I am not really all about NFTs but they are not going away… They are the perfect tool for digital capitalism. They create a kind of artificial scarcity
In the case of the Gamestop policy, at least creators get paid for their work as long as its remains popular/desirable
I don’t think your opinion is wrong, just misinformed/uninformed. I share your opinion mire generally about blockchain tech, as it’s clearly been used for scams and bullshit.
We’re not talking about Bored Ape fake trading card nonsense. We’re talking about Game Publishers and re-sellers who want to verify provenance of a file. The publisher (creator) wants to get a cut of a forward sale of the game. That’s the speculated way that this would work. Whether it’s tied to Gamestop is irrelevant. NFT technology will serve this purpose for all forms of digital media.
Gamestop is just the only service currently offering this benefit when minting your NFT (or was… Maybe it changed)
Only if you can put the license itself on the blockchain, and guarantee the blockchain is robust enough to last beyond Gamestop’s bankruptcy. Or survive past the day Gamestop decides they can make more money by destroying the current blockchain and “upgrading” the system.
I don’t think anyone can say that Gamestop will definitely be around longer than people want to use these licenses they sell. And I hope the license isn’t just a pointer to some Gamestop website that stores the licenses (re: standard NFT). But I don’t trust any corporation to do something like this without building in some sort of backdoor to revoke licenses. Especially Gamestop.
It doesn’t matter if the blockchain is eternal, if this is a traditional NFT, it isn’t stored in the blockchain. All you’re buying is a link to a website where the NFT is stored. It doesn’t matter if it’s a license key, or a shitty computer generated picture of an anthropomorphic ape. When Gamestop decides to shut down the server (it will happen eventually), you lose access to your license key. If Gamestop allows you to copy your license key, you still lose access to your software when Gamestop shuts down the licensing server. I’m not sure the technology works the way you think it works.
Uhm… Sorry but you have a fundamental misunderstanding of how this tech works.
NFTs are stored in a “wallet”, the address is recorded on the blockchain. As long as you know your seed phrase (or other recovery key) it will be yours eternally. The NFT market is only a place to put buyers and sellers in the same spot. Even “in the market”, the NFT lives at a blockchain address, someone else’s wallet.
That’s why Gamestop can say “we’re shutting down our wallet service. Get your recovery key and restore your NFTs elsewhere”
Gamestop doesn’t run a licensing server and probably won’t. That’s for publishers. Also, NFTs make licensing servers redundant.
The Gamestop NFT marketplace will hopefully allow creators like you to release games and collect a royalty for each re-sale
Fuck no. Nobody wants NFTs.
I am not really all about NFTs but they are not going away… They are the perfect tool for digital capitalism. They create a kind of artificial scarcity
In the case of the Gamestop policy, at least creators get paid for their work as long as its remains popular/desirable
Sounds kinda sus man
What’s sus about creators receiving royalties for their own work?
The sus part is the royalties being tied to unregulated, highly risky “assets”
I don’t think your opinion is wrong, just misinformed/uninformed. I share your opinion mire generally about blockchain tech, as it’s clearly been used for scams and bullshit.
We’re not talking about Bored Ape fake trading card nonsense. We’re talking about Game Publishers and re-sellers who want to verify provenance of a file. The publisher (creator) wants to get a cut of a forward sale of the game. That’s the speculated way that this would work. Whether it’s tied to Gamestop is irrelevant. NFT technology will serve this purpose for all forms of digital media.
Gamestop is just the only service currently offering this benefit when minting your NFT (or was… Maybe it changed)
Only if you can put the license itself on the blockchain, and guarantee the blockchain is robust enough to last beyond Gamestop’s bankruptcy. Or survive past the day Gamestop decides they can make more money by destroying the current blockchain and “upgrading” the system.
The blockchain has nothing to do with Gamestop’s solvency as a company (which is not in doubt, BTW). It’s Ethereum blockchain.
The last sentence of your comment sounds like you don’t actually understand blockchain technology at all…
I don’t think anyone can say that Gamestop will definitely be around longer than people want to use these licenses they sell. And I hope the license isn’t just a pointer to some Gamestop website that stores the licenses (re: standard NFT). But I don’t trust any corporation to do something like this without building in some sort of backdoor to revoke licenses. Especially Gamestop.
Your comment makes me think you don’t get how the technology works. Ethereum blockchain will continue to exist whether Gamestop does or not…
It doesn’t matter if the blockchain is eternal, if this is a traditional NFT, it isn’t stored in the blockchain. All you’re buying is a link to a website where the NFT is stored. It doesn’t matter if it’s a license key, or a shitty computer generated picture of an anthropomorphic ape. When Gamestop decides to shut down the server (it will happen eventually), you lose access to your license key. If Gamestop allows you to copy your license key, you still lose access to your software when Gamestop shuts down the licensing server. I’m not sure the technology works the way you think it works.
Uhm… Sorry but you have a fundamental misunderstanding of how this tech works.
NFTs are stored in a “wallet”, the address is recorded on the blockchain. As long as you know your seed phrase (or other recovery key) it will be yours eternally. The NFT market is only a place to put buyers and sellers in the same spot. Even “in the market”, the NFT lives at a blockchain address, someone else’s wallet.
That’s why Gamestop can say “we’re shutting down our wallet service. Get your recovery key and restore your NFTs elsewhere”
Gamestop doesn’t run a licensing server and probably won’t. That’s for publishers. Also, NFTs make licensing servers redundant.