I had heard of NFTs before this but as usual Ben does a pretty good job of adding to my understanding about them.
Digital trading cards is the clearest way I’ve found to explain them but much like I grew out of trading cards I don’t see myself getting that into these either. That’s not to say I wouldn’t buy a pack if I got the chance but I’m certainly no ponying up money for specific shots or serial numbers.
One part of this that’s curious to me is how you know that an artist isn’t going to just mint more ids for the same artwork. I guess you just trust that they won’t? Like grins sold a bunch of NFTs but should in theory could just make more right? Is there anything about the blockchain that would stop her? Similar to Bitcoin how do they stop someone from making more? There must be something but that’s part of the setup that makes no sense.
For NFTs too I get the token part but is the artwork or “top shot” actually in the blockchain as well or is it really just this serial number or token and then we just all know that 00775444366544366 means this sick ass drawing from Dan deacon?
On top of all of this is the amount of cpu and digital storage these block chains take is concerning. I don’t fully understand how big of an issue it is but I know that they use a lot of energy, and it grows exponentially with each transaction.