I will make a comment about NFCs. Basically, if you’re trying to validate a set number of items in a digital market, NFTs are not the worst way to do it. In the context of a video game, it would be that you have the NFT for, let’s say, a limited character skin, associated to your game profile/account/whatever. As long as that token is attached to your account, you get access to that skin. If you trade it out, you lose access to that skin in the game… As an example.
NFTs would accomplish that goal, while being (at least in theory) decentralized, and in theory it’s immune to errors and exploitation.
All of that being said: there are much better ways to accomplish the same with less. Any blockchain, by its very nature, will eventually become a slow, unmanageable mess because anything written to the ledger is immutable. So the ledger will continue to grow and grow and grow until it’s so large that it’s unmanageable, slow as shit, and just garbage to try to use/work with.
For shit like digital art or whatever, NFTs make even less sense. All you’re actually buying is essentially a receipt that you paid money to someone for the receipt. It’s a lot like going to a store to buy air. You pay for it, get your receipt and now you “own” some air. The only thing that proves you “own” air, is the receipt. If you lose the receipt, oh well, you can’t prove you “own” the air anymore, but you’re still 100% able to use the air, to fill your lungs, and breathe for another day, whether you “own” it or not.
The only difference with a “web3” game is that owning the NFT may give you access to stuff inside the game that you otherwise wouldn’t have.
So the ledger will continue to grow and grow and grow until it’s so large that it’s unmanageable, slow as shit, and just garbage to try to use/work with.
I’m not going to defend Ubisoft here.
I will make a comment about NFCs. Basically, if you’re trying to validate a set number of items in a digital market, NFTs are not the worst way to do it. In the context of a video game, it would be that you have the NFT for, let’s say, a limited character skin, associated to your game profile/account/whatever. As long as that token is attached to your account, you get access to that skin. If you trade it out, you lose access to that skin in the game… As an example.
NFTs would accomplish that goal, while being (at least in theory) decentralized, and in theory it’s immune to errors and exploitation.
All of that being said: there are much better ways to accomplish the same with less. Any blockchain, by its very nature, will eventually become a slow, unmanageable mess because anything written to the ledger is immutable. So the ledger will continue to grow and grow and grow until it’s so large that it’s unmanageable, slow as shit, and just garbage to try to use/work with.
For shit like digital art or whatever, NFTs make even less sense. All you’re actually buying is essentially a receipt that you paid money to someone for the receipt. It’s a lot like going to a store to buy air. You pay for it, get your receipt and now you “own” some air. The only thing that proves you “own” air, is the receipt. If you lose the receipt, oh well, you can’t prove you “own” the air anymore, but you’re still 100% able to use the air, to fill your lungs, and breathe for another day, whether you “own” it or not.
The only difference with a “web3” game is that owning the NFT may give you access to stuff inside the game that you otherwise wouldn’t have.
Great in concept, horrible in practice.
So, exactly like a physical ledger…
It’s an interesting technology, a solution in search of a problem.
Agreed.