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But with NFTs there seems to be a deep, dispersed stack of players and technologies which even in the best case is very precarious. Even assuming best case technical execution of contracts, how/where digital assets are stored/referenced, etc.
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About half the stack seems solid, the other half, the part encoding how the contracts point to the artifacts and where they’re stored, not so much... see this thread.
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Out of curiosity I dug into how NFT's actually reference the media you're "buying" and my eyebrows are now orbiting the moon
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Several people have mentioned this — it’s unclear why url pointers are used at all? Why not just hash the artwork in question itself directly on the chain? Content-centric networking seems ideal here. Ditch the addressing problems altogether. Maybe I’m not getting something.
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Seems to be primarily a problem for obscure works that, in the stronger case, end up losing the only IPFS host hosting it. Popular works that many hosts have an incentive to keep a copy of seem to be an easier problem. No pointers needed. Just search via hash.
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Merely pointing to a URL hosted by a random private party seems clearly like a scam to me. Even if the URL were library of Congress, you’re down to trusted third party as security hole. The whole point of blockchaining things is moot.
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Yep, I have seen no good answers, even aspirational/conceptual to this so far. Weirdly, for once, techies seem more skeptical than the artist crowd which is usually at the forefront of the backlash.
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Replying to @vgr
i wrote about this a month or so ago, considered how the ipfs hash points to an ipfs data structure, not (directly) the actual content; posited that there is also the additional problem of multiple bitwise representations of the same content: doriantaylor.com/no-stuck-boat-
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I think there’s a there there with NFTs, but it’s technically only a 50% complete invention. And it’s hard to see this because the usual suspect backlashers who tend to spotlight such gaps are now eagerly on board because... for once they’re on the money side of a tech thing 🤔
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If the premise is similar to my original woodcut analogy, there’s a loooong way to go. Somebody has to invent digital wood basically and make it content-centric discovery. A substrate with a unique digital grain or something (eg . a jpg compressor with a key phrase coded in?)
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Replying to
Dogecoin has no cap, which is a crucial difference from Bitcoin afaik. I think you’re wrong. This isn’t just a soft social phenomenon. There’s a reason this is as complex as it is.