Are NFTs Dead? Trends, Predictions and Statistics 2023
dappgambl.com
dappgambl.com
This highlights the incredibly high-risk nature of the NFT market and underscores the need for careful due diligence before making any purchases, especially ones of high-value.
This daunting reality should serve as a sobering check on the euphoria that has often surrounded the NFT space. Amid stories of digital art pieces selling for millions and overnight success stories, it is easy to overlook the fact that the market is fraught with pitfalls and potential losses.
The article is dubiously unsourced and I can spot several inaccuracies just from reading it, so it's likely the rest of the data in the article is inaccurate too.
The only shocking part is that there appear to still be some people handing over actual money for these not-things.
Honestly, NFT’s were an iq test. Which many failed.
The holder of this NFT is the package maintainer. Only their signing keys can bless releases as official. Contracts exist to transfer this role to their successor in response to election outcomes or in response to them going dark for too long. That sort of thing.
No need if your threat model lets you trust GitHub, but eventually software will mediate something important enough that handing Microsoft the keys is not an option.
Will it though? Its hard for me to imagine a judge ignoring the law because the computer says something else.
I mean, maybe you should think twice about participating in a rule set that comes with a community that feels the need to break the rules regularly, but that's all somewhat orthogonal to the language used to express those rules.
NFT's are the adversary-resistant equivalent of mutexes and semaphores. It seems short sighted to think that we'll never need that.
Even if trust in crypto never improves, there's still room for trust in cloud providers to degrade. That is, regrettably, the typical direction when it comes to companies.
Governments get cancer and become ineffective. Then they're replaced by new ones through revolution. The tools of revolution become the buerocratic machinery of the subsequent regime.
You don't need crypto unless you're coordinating against a powerful adversary--like a government--so I think it's reasonable to assume that crypto will end up being part of the revolutionary's tool belt, and therefore part of the buerocratic machinery.
We have those already, it's a certificate.
[edit] Also, DAOs votes are exactly as binding as twitter polls.
This means that they can't be any more trustworthy than the least trustworthy admin who as access to those back channels.
That's unnecessary attack surface. It's also a transparency problem because there's generally not a way for consumers of the certificate to audit the workings of those back channels.
It's up to you, the author of the contract/dapp/whatever, to decide on the conditions under which it should make changes, and its up to the users to decide, based on its code, whether they should trust whatever other users (or keys, or data) that it indicates.
Users trusting users, not users trusting infra.
(Yeah, ok, you could call the contract "infra", but the difference is that once you publish it, you no longer have a privileged position to alter its behavior. It is to be trusted, or not, based on its merits, not on yours. The same cannot be said for certificate authorities, DNS records, databases, or websites, whose maintainers typically retain privileges that are not shared with the rest of us.)
They don't. Trains and busses do, though, which is why they're better - that’s the difference between a functionally equivalent technology and a superior one. Not really sure what you're getting at.
Are POGs dead?
Are S&Ls dead?
Are tulips dead?
This is a fantastic tautology.
There's some inverted math comparisons in here, but I gather author is astonished that so few are high-valued.
I would have thought that by now the rational position would be to question why any of these ersatz items have a non-zero value.
Of course, value is poorly defined. The six 'real use cases' cited from 'amongst may' are not unique functions of NFT - they could variously be met by cryptocurrency, cash, or ownership of an actual item (if I'm understanding that culture artefact point).