Non-Fungible Tokens, and how they are a non-fungible store of value like land.

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James

James

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I have no idea if you're serious or not. You do understand that sentence explicitly outlines the fact that you cannot copy an NFT?
 
James

James

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From the EIP about Metadata:

Metadata Choices (metadata extension)

We have required name and symbol functions in the metadata extension. Every token EIP and draft we reviewed (ERC-20, ERC-223, ERC-677, ERC-777, ERC-827) included these functions.

We remind implementation authors that the empty string is a valid response to name and symbol if you protest to the usage of this mechanism. We also remind everyone that any smart contract can use the same name and symbol as your contract. How a client may determine which ERC-721 smart contracts are well-known (canonical) is outside the scope of this standard.

A mechanism is provided to associate NFTs with URIs. We expect that many implementations will take advantage of this to provide metadata for each NFT. The image size recommendation is taken from Instagram, they probably know much about image usability. The URI MAY be mutable (i.e. it changes from time to time). We considered an NFT representing ownership of a house, in this case metadata about the house (image, occupants, etc.) can naturally change.

Metadata is returned as a string value. Currently this is only usable as calling from web3, not from other contracts. This is acceptable because we have not considered a use case where an on-blockchain application would query such information.
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What you quoted is saying that even if two separate NFTs return the same exact string of metadata, they are not the same at all. Ownership of the asset is represented by the NFT itself, which cannot be copied.
 
Kharzette

Kharzette

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NFT.png
 
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jayrebb

jayrebb

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Denamian said:
Anyone care to make a case for me to not move this to the stonkhouse? If you're mostly discussing the money side and not the tech, this belongs there.
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id say move it to PC and console games. its a virtual cardgame James is playing with some chongs over in asia
 
Tmac

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James said:
I have no idea if you're serious or not. You do understand that sentence explicitly outlines the fact that you cannot copy an NFT?
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The underlying asset can be copied.
 
James

James

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We've clearly established you can save jpegs from the internet, yes. What does that have to do with NFTs?
 
Big Phoenix

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You would have fit right in with the guys slinging dog shit in the 1920s James.
 
James

James

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Well you clearly don't understand NFTs either, what are you having problems with?
 
James

James

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That makes no sense, the title is fine for describing the point of the thread: the underlying technical framework that allows NFTs to be a non-fungible store of value like land.
 
James

James

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Great thread talking about NFT contracts for those still struggling:

loot-talk.com

LIP-0: Burn the keys to the Loot contract

Summary This is a proposal to burn the keys to the Loot contract, which removes the ability for any figure or organization (like a DAO or multi-sig) to ever act as its owner. Because this decision preempts any other decision, I’ve decided to call it LIP-0. Background Before getting into...
loot-talk.com loot-talk.com

EDIT: Specifically, think about the Soft Powers section and how canonical versions of NFT operate between centralized authority and decentralized consensus:

Soft Powers​

These are the perceived powers of the contract owner. For better or for worse, as long as there is a contract owner, the perceived powers of the contract owner likely have some legitimacy. The owner’s primary soft power is the ability to signal what is or isn’t canonical or approved, and to require some degree of psychological buy-in:

  1. By social means (“the DAO has repeatedly voted against integrating these types of projects… it’s not official”)
  2. By financial means (“it’s the preferred way to do it because the DAO funded it”)
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LachiusTZ

LachiusTZ

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I'm still willing to sell you a picture of this non fungible paper clip for 5 ETH
 
James

James

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That's the thing, I know you created it so it doesn't matter if it's a picture of a paperclip or a complete brick by brick recreation of the Sistine Chapel, it's going to be a worthless pile of shit because you have all of the creative capacity of a retarded slug.
 
James

James

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I don't want to buy your land. I will never want to buy your land, because you probably shit on it and then rolled around in it because you're a retarded slug.
 
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James

James

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Wait, do you think land is inherently valuable or something? Are you that much of an idiot that you don't know you can buy acres for fucking pennies/sqft out in the middle of nowhere?
 
James

James

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www.landwatch.com

2.27 Acres in Apache AZ

$100/mo $7000 total or $5600 cash (20% discount)You can own a wonderful 2.27 acre property in northwest AZ near Sanders.Do basically whatever you want on this property in Apache county. Great for
www.landwatch.com www.landwatch.com

LachiusTZ LachiusTZ over here like WHY WON'T YOU BUY THIS LOLOLOL IT IS LAAAAND fucking dumbass.
 
Tmac

Tmac

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James said:
www.landwatch.com

2.27 Acres in Apache AZ

$100/mo $7000 total or $5600 cash (20% discount)You can own a wonderful 2.27 acre property in northwest AZ near Sanders.Do basically whatever you want on this property in Apache county. Great for
www.landwatch.com www.landwatch.com

LachiusTZ LachiusTZ over here like WHY WON'T YOU BUY THIS LOLOLOL IT IS LAAAAND fucking dumbass.
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$2800 / acre in the middle of a desert?

Sounds about as appealing as a 2D monkey.
 
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