this post was submitted on 19 May 2025
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I just remember looking into NFTS when they were gaining hype. There are a few real world use cases for them.
However ultimately the NFT ended up leading back to a URL of the picture. I may be oversimplifying it a little bit but that's basically how it worked.
So the web hoster could just revoke the URL or set it to something else. So you don't really own anything. I will have to look at the specifics of this "hack". But this was always gonna be an issue.
It didn't have to a URL to an image. It could have been a serial number showing ownership of a thing, etc.
But block chain isn't really necessary for a registry, and in the end the money was in scamming people by selling them urls to images.
You can make images small enough to be hosted within the blockchain and there’s a fair amount of nfts like that. But that’s limited to pixel art stuff
I feel like, with some work, NFTs could be used for decentralized ownership of digital content licenses? But, I sincerely doubt any such companies would care to set that up.
While I know most people would just prefer everything go DRM-free, I’ll admit I became interested in the practice when I learned town libraries can stock AAA console video games, but would have a hard time stocking indie/AA games that have only had digital releases - even if the game’s creator is a hipster that loves libraries, the only simple approach there is to give away infinite free copies of the game.