I value this meme at eleventy billion and won't take a cent less

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I think NFT's had some promise for stuff you actually have to own (not some ape pictures). Like a digital version for maybe an invitation or tickets or if done properly (by your countries government for example) maybe even for stuff like licenses (i.e. driving license, welding license etc.) Or identification (passport, id, etc.)
- For government documents you need nothing but a plain old certificate to create a digital signature. If there is a single instance of trust (such as a government) there absolutely no point in using a blockchain.
  Decentral NFTs for concert tickets would only make sense if you were looking for a solution to liberate the second market, i.e. people selling tickets to other people without involvement of the host of the concert. Such a model is neither beneficial for the hosts (as they wouldn't benefit from the second market sales) nor the visitors (as the second market typically leads to even higher prices). If you meant a way to return/trade tickets on a platform controlled by the host / the original issuer of the tickets, then there's again no need at all for crypto aside plain old, stupid certificates.
- Every single one of the examples you gave relies on some single centralized authority to give it value. Passports and licences are meaningless without a government. Tickets rely on the venue.
  I have not heard anyone mention any application for NFTs that would work better than a database run by the agency that is required to give the document value.
  Blockchain is a solution in search of a problem.
  
  The problem IS the centralized authority. Can you forever trust a government to not artificially inflate or deflate the value of a currency? The whole point was to have a system with no single authority. No single point of failure.
  It is, however, not perfect. The volatility, limited number of transacrions per second , and reliance on an incredible amount of energy expense were the largest of these when the original bitcoin concept was created. Some of these issues have solutions, but its still an evolving technology.

113 comments