Quote from: Syke on Today at 10:23:34 AM

Quote from: goldkingcoiner on Today at 09:05:45 AM

I don't get the new NFT thing.

It's a digital certificate that says, "I own thing X". You can then sell/transfer that digital certificate to someone else.

For the NFT use case of which you speak, I think of it as a digital autograph. In the physical world, a famous author may sign 100 copies of a book that has a print run of 10,000,000; and those special copies may command a hefty price. A movie star may autograph a photo of himself. And so forth... N.b. that in all such cases, the scarcity is more or less artificial insofar as the marginal cost of autographing an inexpensive item is negligible.

Everybody understands how that works. Some people buy such things, some don’t—but everybody understands the concept.

The problem with these April Fools’ fNFTs is that they are a SCAM. Many of these fNFTs are not originally issued or authorized by the party whose name is associated with them. For example, there is at this time a Satoshi fNFT; and there are currently two different Last of the V8s fNFTs for sale, even though V8s has been inactive since November. Obviously, you are not obtaining any sort of “autograph” from those persons... Real NFT sites have similar problems with fraudulent offerings. Fortunately, the scam here only reaps fake BTC which, I presume, will disappear altogether at midnight UTC.

More generally, NFTs have many other use cases. For example, I think using NFTs to track real estate titles would be a great improvement over the current means of doing such things. If it were so, then when you bought a house, you would receive a blockchain transaction representing legal ownership of your house—just as today you receive a paper deed. The title could be passed on to another party in another tx, with a digital signature from your private key. Not your keys, not your house! For Bitcoiners, the concept should be easy to understand.