The venn diagram of crypto people who think NFTs are absolutely idiotic almost exactly matches the venn diagram of crypto people who haven't really dug in and tried to understand NFTS.
Can I have the title to your car? After all, it's just a piece of paper.
NFTs are access tokens to social communities, where owning a particular token grants you access to a community that shares ownership. Collab.Land is a tool communities use for NFT ownership based roles, revoked upon sale. NFTs are a distributed system of title. I'd be shocked if every concert ticket isn't a form of NFT in ten years--you can transfer them verifiably on the secondary market while giving a royalty to the issuer, use them to access a concert, and keep them as a souvenir like a traditional ticket stub. And yes, some people make profile pics, and generative art projects. You don't have to like or participate in those. But dismissing all NFTs as idiotic is not a position that is going to age well.
Granted, I really can't be bothered to care about all the stuff going on out there with nft's but i'm not going to let it sour me on those trying to build decentralized alternatives for systems people like to engage in now while cutting out the centralized platform rentiers/censors.
[0] https://cdn.discordapp.com/attachments/785611286100049941/88...
[1] https://cdn.discordapp.com/attachments/785611286100049941/88...
> without having to solely trust the company issuing the nft ticket
For the transaction yes, but what about the thing you are buying? Perhaps I am not thinking creatively enough, but I can't think of a use case where there isn't ultimately some trust required other than solely digital assets.
Using your hotel example, you will end up at the hotel where they can choose to honor your ticket in the same way as their traditional booking system. There was no need for this to be on a distributed ledger as the asset (a hotel stay) was between you and the hotel.
You are not cutting out the middle man of some SaaS provider, you are substituting them.
Perhaps, but its ok either way, it's not really limiting the DAO or the places leveraging the DAO to pursue this stuff.
> Using your hotel example, you will end up at the hotel where they can choose to honor your ticket in the same way as their traditional booking system. There was no need for this to be on a distributed ledger as the asset (a hotel stay) was between you and the hotel.
Its not just about honoring the ticket for the duration of any particular booking, but also mitigating the risk between multiple parties and being able to easily integrate such information with as many decentralized protocols are needed for the parties involved without extra dev overhead to connect them.
For some places, you need to have a card on file in case of damages (this is where the decentralized escrow/dispute and resolution protocol come in) and rely soley on visa/mastercard and the hotel unilaterally being able to say that you were the cause of an issue that may come up or being able to decided whether or not you are on the hook.
Incentivized actors (these need not be people, it could be automated, but since everything has an address, no one can tell the difference) of those other protocols on chain need visibility with the address that held the nft. So yes, its trust the protocols and incentives associated with them around handling dispute and resolution and non custodial locking of collateral in escrow (or allowing another protocol to time lock collateral on ones behalf).
And this assumes that the place someone buys an nft stay has the in house capability to do all that without using a particualr nft stay protocol (which alot of places dont esp for random bnb) or ok with giving a large cut to airbnb/booking.com/visa etc if they don't.
> You are not cutting out the middle man of some SaaS provider, you are substituting them.
Yes, for code that can take a lot less of the cut than existing SaaS providers (if any at all). A protocol != SaaS provider, even though a SaaS provider could manage a protocol[0], or a protocol can just be an set of immutable contracts deployed on chain, or anything in between.
[0] https://aws1.discourse-cdn.com/standard21/uploads/shinedao/o...
Do I print a piece of paper? Do I show them a picture on my phone or something? Can't the previous owners of the NFT show the same picture? Can't anyone show the same picture on their own phone?
Your NFT could have an associated QR code read at the door. In case of conflict there’s only one owner with access to the associated wallet and will be able to proof ownership via app / website…
I suppose your right that it usually wouldn't matter, but in case of conflict you better be prepared to sign something with your private key. If NFTs make most of society familiar with public and private keys, message signing, etc, it will be a win.
Yep, if someone else tries to access with your ticket you can always sign with your wallet somewhere to resolve the conflict.
We will probably see crypto wallets integrated in our phones and associated OSs pretty soon to make everything smooth.
Or just have your phone broadcast the public keys via radio to a turnstile.
Thus, anyone can make QR codes that show the 2 public keys. It's trivial. This is the "showing a picture" scenerio I mentioned above. Anyone can show the right picture, especially since the picture that needs to be shown is public information.
Which of these can you not do on TicketMaster today?