So what do you guys think about this new craze: NFTs?

I think there is definitely a future for NFT, I think it makes a lot of sense for proving ownership.

Ownership of digital assets is important for certain things -- for example licensing. I see NFT as useful kind of like a copyright is useful.

I see copyrights as very useful for businesses/creators, and not so useful for end users, beyond licensing or perhaps enforcing trademarks I don't see a lot of utility for end users.

For example. . .

NFT may also be useful for digital assets that can be used in popular games. For example rare items in World of Warcraft -- that said people are already dealing with rare items in games today without having to use NFT to do it so I'm not sure how much benefit it would provide.

I don't see NFT in trading cards as functionally different than what Topps was doing with their Card Trader apps. In those apps ultimately I don't think many if any of the digital cards retained any value despite being based on huge licenses like Star Wars and Walking Dead. Now Topps is creating GPK NFTs on Wax, and is is MUCH more complicated to buy these than it was to use the Card Trader apps. These Topps NFTs have the overall NFT hype going for them, but I still fail to see the utility here and suspect they will end up like the Card Trader apps did.

Those are my thoughts, and I may be way off base.

This message has been edited. Last edited by: webjon,

Honestly, I think the whole thing is ridiculous.

quote:

Originally posted by Bob Johnson:
Honestly, I think the whole thing is ridiculous.

What you don't want to invest in Nonfungible Tokens? Are you just a Fungible person?

If anyone hasn't heard of NFTs yet, I would suggest you google it. I would try to explain them, but I wouldn't understand my explanation. Basically its the same concept as Bitcoin carried to one of a kind digital code and you can own it for a price. Apparently someone paid 69M for an NFT recently.

The thing is, this stuff looks like BS pulled out of thin air. It's insane on the face of it, but it's an alternative financial system for those that need it. There is great wealth in this world and those people are looking for a less regulated, less taxable, less government or country control currency.

However much the general public has gotten into the stock market or other designed financial investments, the really big money held by individuals or institutions is always looking for someplace else to go. Transferring digital tokens is another place to go. It all sounds stupid, but its not. It's serious business.

My sole opinion on NFTs is “Not For Todd”.

Todd, for card collectors like us, all of this digital transfer stuff is less than garbage.

In terms of the hobby, there is also something called Wax Blockchain and places like Atomic Assets to I guess buy, sell and store digital cards. It's there, people are doing it, money is being spent, markets are being created, good for them. I want a card I like in my hand.

NFTs are way more than any application you can make to trading cards. I will never get into it, but I'll bet Elon Musk already has.

I caught an NFT on a Med Cruise once while in the Navy.


Doc hit me with a shot, cleared it right up!

If you don't want an NFT and can't afford Bitcoin, you might consider Dogecoin. It's a meme based cyptocurrency that has been around since 2013 when it was started as a joke. I just heard about it recently, but what do I know.

Anyway there is a Dogecoin community, certain celebrities are into it, there seems to be an unlimited supply (understandable since its backed by nothing) and it trades for about .20 cents each now. Looks like there are billions of dollars invested in it. I don't know how you mine it, but anyone interested should find out.

Honestly I read this stuff and I can't figure out who the fool is, them or me. They're making money and I'm not.

I sort of understand NFT's as something related to "spirits in the material world" or "pretend money" but they have a real bank now somehow. Since Todd is my spiritual and financial advisor, I have to say I'm out.

Jess