Why all hate NFTs?

[El_Misterioso]

I hate NFTs too but, Why all hates NFTs,
I know NFT games are 0/10

but Why is not a good NFT game and Why all the hate to this things

 

[elpapadelospollitos]

Because there's a 99.9% chance it's a scam

 

[Viri]

They're synonymous with crypto, and crypto is hated because it destroyed the GPU market for like a year+.

Hopefully crypto goes the way of the dot com bubble.

 

[Jasonclarke1986]

whats a NFT?

 

[Deleted member 194275]

NFTs burn electrical power just to make scarce what is naturally abundant, like .jpg files.

I believe it is a post capitalism of some sort to make useless or abundant things desirable, just to be desirable.

 

[elpapadelospollitos]

whats a NFT?

Non-functioning testicles

 

[Deleted member 194275]

Non-functioning testicles

then I believe I'm a NFT since the vasectomy.

 

[tech3475]

Non-functioning testicles

So that's why Square-Enix is changing their name to Square-Eunuchs

 

[sarkwalvein]

Because they are a shameless scam pushed by greedy people that in their perverted lust for money forget to put the minimum amount of effort into pretending they provide something of value and completely fail at PR, thus achieving universal hate.

 

[FAST6191]

Short for non fungible token for those that asked. Non meaning not, fungible meaning can't be split or replaced* and token meaning representative item/mark.

*money is said to be fungible. One £20 note is as good as any other where these are not so easily substituted.

Variety of reasons for the dislike.

1) Most offerings thus have been complete scams in as much as they are hyped beyond all reason.
Theoretically a cryptographically backed ledger of ownership could be a useful thing**, as would the same for contracts of which this is a subset of, but very little of any real substance has been issued thus far. A lot of money has been thrown around but speculation and if you want a fancy economic term then see "greater fool".

2) Some attribute the rise of crypto (currency) of which this is a related concept with the GPU market being hard to find GPUs as GPUs are no longer pixel pushers but actually massively parallel computation devices (see GPGPU if you want a term to search for). A weak argument from where I sit (NVIDIA and AMD/ATI need to make more chips and Intel need to make good ones) but a notion that was floated.

3) Power usage. Some people are filthy hippies and calculate power usage per and consequently get upset. Overblown and way bigger issues out there if you care about wasted power and finding jungle homes for the whales but it is a thing you can be concerned about.

4) Some artists found their work stolen. So far so internet but it is a thing people noted and got bent out of shape over.

**rather than having to press a DVD of the best of your youtube channel (minimum run about 1000 in most places, and having to ship it afterwards as well as sort payments) you could issue an NFT of it, sell that as valuable and those with ownership of the thing get to enjoy it and then sell it on in 10 years when you do the usual big youtube, big depression, lift your head up high and blow your brains out routine. More generally while we could go to court and debate whose emails said what and constituted an ownership contract with what terms then having it on a nice secure public ledger makes life a lot easier.
I would also note several of the NFTs made have actually been less than ideal here and derisively referred to as links, some actually were links rather than tokens of ownership of a work but that is an implementation issue.

 

[linuxares]

Because crypto and nfts are a scam?

 

[hippy dave]

 

[Tomato123]

Short for non fungible token for those that asked. Non meaning not, fungible meaning can't be split or replaced* and token meaning representative item/mark.

*money is said to be fungible. One £20 note is as good as any other where these are not so easily substituted.

Variety of reasons for the dislike.

1) Most offerings thus have been complete scams in as much as they are hyped beyond all reason.
Theoretically a cryptographically backed ledger of ownership could be a useful thing**, as would the same for contracts of which this is a subset of, but very little of any real substance has been issued thus far. A lot of money has been thrown around but speculation and if you want a fancy economic term then see "greater fool".

2) Some attribute the rise of crypto (currency) of which this is a related concept with the GPU market being hard to find GPUs as GPUs are no longer pixel pushers but actually massively parallel computation devices (see GPGPU if you want a term to search for). A weak argument from where I sit (NVIDIA and AMD/ATI need to make more chips and Intel need to make good ones) but a notion that was floated.

3) Power usage. Some people are filthy hippies and calculate power usage per and consequently get upset. Overblown and way bigger issues out there if you care about wasted power and finding jungle homes for the whales but it is a thing you can be concerned about.

4) Some artists found their work stolen. So far so internet but it is a thing people noted and got bent out of shape over.

**rather than having to press a DVD of the best of your youtube channel (minimum run about 1000 in most places, and having to ship it afterwards as well as sort payments) you could issue an NFT of it, sell that as valuable and those with ownership of the thing get to enjoy it and then sell it on in 10 years when you do the usual big youtube, big depression, lift your head up high and blow your brains out routine. More generally while we could go to court and debate whose emails said what and constituted an ownership contract with what terms then having it on a nice secure public ledger makes life a lot easier.
I would also note several of the NFTs made have actually been less than ideal here and derisively referred to as links, some actually were links rather than tokens of ownership of a work but that is an implementation issue.

To add onto this, when you buy one of these image NFTs, you typically don't even own the image. You actually bought a text file containing a link to the image. You don't even own any rights over the image.

 

[FAST6191]

To add onto this, when you buy one of these image NFTs, you typically don't even own the image. You actually bought a text file containing a link to the image. You don't even own any rights over the image.

While there are many that are like that not all are and they don't have to be either -- easy enough with the whole smart contracts thing that this is based on to say ownership (or other more restrictive licensing option) of this item with this hash and then have the ledger keep track of ownership.

 

[Elodain]

Any Utility the technology had as a useful and beneficial thing has been put on the backburner by greedy "bros" who misappropriated it as a tool solely for financial gain and failed artists found it to be a way to turn their low effort mediocre artwork into an undeserved fortune instead of trying to get better at what they do.

Not to mention the stolen artwork, and Likenesses. Or the absolutely vile lengths some of these NFT bros will go to for a quick cash grab, such as the Etika token. Not only was it was a slap in the face to Etika's legacy, but it makes light of the situation that removed him from the world, and was kinda racist. But these bros somehow convinced themselves they were "honoring" him, or that fond memories will cloud judgement and make them lots of money. Fuck that.

 

[Marc_LFD]

They're synonymous with crypto, and crypto is hated because it destroyed the GPU market for like a year+.

Hopefully crypto goes the way of the dot com bubble.

What? No.

NFTs are seen as a scam because people sell digital images.

 

[Argonitious]

They're synonymous with crypto, and crypto is hated because it destroyed the GPU market for like a year+.

Hopefully crypto goes the way of the dot com bubble.

It's more like COVID-related shortages destroyed the GPU market. Crypto mining exaggerated the problem, but it was not the cause.

Crypto is starting to move away from GPUs. People are realizing that relying on energy-intensive computations is not a sustainable approach to crypto. Chia, for example, uses hard drives instead of GPUs. Chia's approach has a potential e-waste problem, but at least they have proven that crypto can work without GPUs.

My point is that crypto does not automatically mean a ruined GPU market.

What? No.

NFTs are seen as a scam because people sell digital images.

On top of that, NFTs only give you the right to access a link to the content. (For games, it is probably some sort of code instead of a link.) It is totally arbitrary and doesn't guarantee access to what you buy. It is possible that the link to the content will go dead one day, and your NFT will effectively be worthless. It is not a good situation...

 

[Elodain]

You wanna know why people Hate NFTs?
This is why.

Spoiler: infuriating image warning

That's an NFT of Technoblade.
You know, the popular youtuber that JUST died of cancer? At the early age of 23, who spent part of his last day writing a note to his fans, to have his father read on camera through tears?

Some fuckheads are trying to use his death as a meal ticket.
And this isn't the only one. There is one where he is dead with X's for eyes, then one for him going to heaven and one for him going to hell.

NFT's are a disgusting practice and need to be outlawed, there is no hope for this technology being used for anything valuable to anyone other than grifters with no sense of decency.

Fuck this technology, take it behind a barn and shoot it between the eyes.

 

[Nakamichi]

Crypto/NFTs produce EMF and that stuff will kill you.

 

[Ferris1000]

NFT sucks because you spent Money on non Physical Stuff that is just useless. you can't even compare it to Stocks.

The Reason why Game Publisher want to use NFTs is to suck you Money by telling you that their stupid loot boxes would be now worth something.

I'm personally against digital content because of lack of preservation, once the Server is gone, you rely on your HDD/SSD not to fail otherwise you're screwed.
With NFTs you have no real use except you can watch a Picture or sell it. It's just like EA Casino 2.0 to get People to waste even more Money with a Reason (that is not really a Reason).

Developer and Publisher already going to far with loot boxes.

If this doesn't stop they will charge you 70-80 Bucks or more and are locking you behind Paywalls that if you want to continue playing you need to pay a certain amount for the next Level. I'm not talking about DLCs, some Companies already doing shady things by implementing part of a Game as DLC since Day one of a Game release.

Nobody should buy into NFTs as a matter of principle, do not buy to make a mark