NFT Projects Are Just MLMs for Tech Elites

This page summarizes the projects mentioned and recommended in the original post on news.ycombinator.com

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  • opensea-js

    TypeScript SDK for the OpenSea marketplace

  • Most of the comments assume that with NFTs you are buying just a piece of digital image with no utility whatsoever. And yes, it is the case with most of the things we see on https://opensea.io/.

    But on the other hand, there are a bunch of interesting projects out there where you can do some interesting things with your NFTs, like the "card game" Axie Infinity and other ripoff projects - with a very few original ones - inspired by it.

    NFTs for collectible card games is something interesting and maybe this can lead to some other interesting use cases in the future.

    Anyway, I recommend searching for "utility nft projects". Most of them seem just like something to steal money from other people, but again... there are some interesting things coming out from it.

  • metaplex

    A directory of what the Metaplex Foundation works on!

  • Well, it's just stored in the centralized platforms like opensea, rarible, etc.

    You’re right that this is the way many have been created so far, but that will not be the case for long. Already people have pointed NFTs to IPFS/Filecoin which will give them much more staying power. And this can be done without using a centralized platform like opensea, check out nft.storage and metaplex (1) as starting points.

    1. https://github.com/metaplex-foundation/metaplex

  • SurveyJS

    Open-Source JSON Form Builder to Create Dynamic Forms Right in Your App. With SurveyJS form UI libraries, you can build and style forms in a fully-integrated drag & drop form builder, render them in your JS app, and store form submission data in any backend, inc. PHP, ASP.NET Core, and Node.js.

    SurveyJS logo
  • IKB

    Ethereum smart contract and related DApps for Digital Zones of Immaterial Pictorial Sensibility

  • > This is not only not a very convincing argument, it's a little bit of an insulting one.

    My apologies if I came across as insulting, but I do feel a sense of frustration with some of the arguments provided in discussions like these, and I think we can agree that some of the language critiquing NFTs here does not scream "open minded".

    First, let me correct a misconception that may give you a slightly different perspective. You write "since there are multiple blockchains that handle NFTs, an NFT is just unique on that blockchain". It is worse than that! There is nothing that enforces uniqueness of an NFT within a single blockchain; not in a way that would make such a duplicate any different than a duplicate on a different chain. You couldn't prevent such duplicates, even if you wanted to. First, artists may on purpose create multiple copies; second, the only way such unique could be detected would be hashes, which can easily be fooled. Third, a scammer minting an NFT of an image belonging to an artist, would then block that artist from being able to mint the NFT themselves. It sounds bad, but it really doesn't matter for the concept to work. People scamming by pretending they are selling art pieces they did not create is a problem, but it is not a problem NFTs set out to solve (and indeed cannot).

    The NFT does not confer any legal rights, correct. But what legal authorities would you want it to confer to the owner? There are a couple that are really useful: The right to download a copy of the art piece from a website. Yes. The right to use the art piece as a profile picture on Twitter. Sure! And artists do often provide license agreements along those lines. (If they don't provide any license information, I believe an owner could try to argue that there is an implied license, and may or may not succeed in that claim.) Some artists put their work even into the public domain.

    I would agree that owning an NFT which you do not have the permission to copy to your hard-drive, or which you cannot see on OpenSea because the artist refuses to allow OpenSea to show that image, seems quite degraded. It will probably be not very popular. And yet, some people just might pay for it anyway, because the ownership of the token on a blockchain is what matters in the end. If a popular artist such as beeple were to publish an NFT, explicitly denying that the owner has any rights to even make a copy of the image, there is no doubt someone would buy it. Call it conceptual art. There is no legal system required, because like you say correctly, the NFT itself does not confer any legal rights. The blockchain is the definitive record of ownership, because legal modes of ownership are basically orthogonal.

    Consider the example of Mitchell F. Chan's Digital Immaterial Zones (I recommend the blue paper: https://github.com/mitchellfchan/IKB/blob/master/Digital-Zon...), which explicitly is a token without any visual media attached; there is nothing that exists outside of the blockchain that you even could own. It is the pure distillation of this idea.

    There is a difference between an artist saying "you have the right to download my file" and the artist saying "I consider you the owner of this immaterial piece that I created, I will only acknowledge 10 owners maximum, and also all of you have the right to download the file".

    The latter kind of agreement can certainly be modeled with a conventional contract, and indeed that has been done in the art world, but it is just so much easier on a blockchain to track those 10 owners, verify that the person selling to you is an authentic owner and that they sell their claim only once, and so on.

NOTE: The number of mentions on this list indicates mentions on common posts plus user suggested alternatives. Hence, a higher number means a more popular project.

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