NFT and the Future of Digital Content
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They are moving to proof-of-stake since 2018 "really soon". Thats better than even "Daz soon"...
DAZ just transfered more of their NFTs to the trash.
I have then feeling we've done so much NFT-reseach in this thread, we are becomig subject matter experts on them.
It's not going to matter, and so I'm voting with the only leverage I've got. My wallet. I'll buy from the other place from now on. Including figures. Even Poser is starting to look good again. I used it for nearly 20 years. I can always go back.
Yes, and HanesBrands are not happy with it (as the brand holder). I asked their sustainability department how NFT's fit into their strategy, and they where, let's say, "not amused". The sustainability department will have a bit of a talk with the marketing guys of Champion...
...and there are other reasons for not feeding the crypto beast but I won't go into them here.
1. Bitcoin is not directly related to NFTs. Ethereum, mined on GPUs is more relevant to NFTs. GPU mining isn't as energy intensive as Bitcoin (ASIC) mining. That said, so what if China ASIC mining outstrips Argentina? China has what, 1.5 billion citizens? Yes, the banks are all over bitcoin now, but, the basic fundamentals of the blockchain, mining system make it more egalitarian than the previous system. We never "run out" of energy. The sun still shines, the river still flows.
2. It's a bit like getting a deed for land. Anyone can stand on the land, but with the deed, there are a bunch of other people saying you own it. So, it kind of is a more streamlined way of identifying property. Full digitization would be great, but I'm not sure totally necessarry.
4. There's problems with the social media sites too, really its just whatever platform you want to use. Personally I'd rather be big on an NFT site than Facebook if it paid more.
It's gonna be awesome when we have everything fueled by hydrogen (*), Linux as the leading desktop OS, and Ethereum based on proof-of-stake. Because I'm told that all those things are coming ... next year.
(*) The energy industry joke is "Hydrogen! It's the fuel of the future! Always has been -- always will be."
Hay! Nothing wrong with hydrogen.
Where are you guys seeing a reduction in NFTs? They're all still available as far as I can see, plus the Champion ones are now back.
I just read an article this morning that says the NFT bubble may already be ready to burst, partly because people are just starting to realize that it never made much sense to begin with. That didn't take long if true, heh.
If we want to minimise human impact on the climate (however large a contribution you think that is, but I won't be discussing that, as that is a subject with a very high risk of arguments), we have to address the impact of every possible industry and make sure it is as efficient as it can be.
And in this respect, you're looking at it wrong. It's not a matter of how much is used by 1.5 billion citizens, it's a matter of how much is used, daily, by 300,000 transactions. And when sending 300,000 transactions a day has an energy usage that outstrips a country of 45 million, you have a serious efficiency problem.
This logic would only be valid if every one was mining based on entirely renewable energy sources, which is known to be untrue. Even then, even renewable sources often have an environmental cost in terms of maintaining and producing the plants/solar cells/whatever.
And the e-waste from mining (which wears out components at a considerable rate when talking about millions upon millions of systems mining) is an entirely different matter. Some of the resources that go into producing electronics are deeply scarce and so hard to reclaim from scrapped electronics that no-one even bothers.
1. Everyone here is aware NFTs run on the Ethereum blockchain. "We never "run out of energy".the sun still shines, the river still flows.", this is at best a theoretical argument if an agrument at all with no basis in the real world where energy is a scarce commodity and the majority of energy sources still pollute.
2. This makes no sense to me at all. Unless you are talking in philosophical terms which I really do not care to discuss (and yes I am aware of the concepts behind NFTs), NTFs have pratical implications that I am concerned about.
4, Your still talking as if NFTs are about promoting art, which they aren't
DAZ may actually be listening to us. They appear to be switching to WAX block chain from etherium, or at least using it for new NFTs. It took a lot of digging, but I was finally able to verify that the WAX blockchain is PoS rather than PoW, so it should be significantly better for the environment. It still doesn't address the other issues, but at least it is environmentally friendlier.
The Digitals don't seem to have adopted WAX.
https://github.com/memo/eco-nft
Looking into it right now, are you sure it's all PoS? Seems like they are still rewarding in Ethereum. Not caught up on it yet though.
Early in the thread one of the Daz folks said it'd be a few months, so if that was a factor in their decision they may want to dig deeper.
A system that's designed to be exponentially more wasteful being ready to go green in ~2 years isn't reassuring. It's like one of those sci-fi gags where someone asks the scientist what their chances of getting back to Earth are after the wormhole closes and they cheerfully run the numbers and come back with something like, "Great news! At our current rate of acceleration we should be able to get home in...120,000 years!"
I find it pretty significant that for something that's supposed to be this useful and important, we're all asked to get on it right now in its current form. I actually do think there are potential uses for unique digital tokens, some of them probably related to art, but this specific format is the one that's definitely going to change the world and should be adopted without hesitation immediately.
This rush has poisoned the well whether this crashes or not, because there are people watching the art world offer justifications for a climate impact speed run now who will never be willing to touch any adjacent technology. All of the problems with it could be solved in the future and lots of people will still be disgusted with it. Everyone knows we need to be driving away from the cliff, and they'll remember who grabbed the wheel and yanked it while promising someone would build a bridge before it's too late.
DAZ and Tafi have both been removing stuff, like something that started with 100 pcs, 2 were sold and 97 trashed, lots of stuff were trashed just 4 hours ago, but Tafi V2 has been making new Champion NFT's...
Except the only thing it validates is the token itself, there is no proof of origin or ownership required for minting whatever.
I have to say, this is one of the most fascinating forum topics that has happened in our little hobby store commons in a very long time.
(Too bad it had to happen in our little hobby store commons).
My compliments to everyone who has posted all of the well informed info and argument.
You have to go almost all the way to the bottom of the page I linked to.
Well, Wax does seem to be an improvement in terms of energy use, just don't know how much, couldn't find any figures or if it changes when it goes up in scale. Daz is on AtomicHub, and this is from their website: "We dont whitelist non original content. If you art is copied from somewhere else, we wont whitelist it even if you have all rights to upload it. We only whitelist content which is original or is part of a bigger project like a game" so that is good,though it doesn't make a difference for other NFTs though.
EDIT: link for your convenience https://wax.atomichub.io/explorer/collection/dazstudionft
I am going to have to change my signature now I know this.
And that is the key. As a tool, it was born as an experiment, with several designg flaws that were not fixed and one of its creator already admitted: the token itself only a link. It just holds metadata.
No art actually included. No proof of origin: at beast you get something like that if you trust the broker did its job properly (so far, none that i know). Even as a link it has its flaws, because as you cannot change it, if the hosting of the art changes, the link is void or may even point somewear else. No accountability by anyone in the whole chain.
...hmm, AIrbus is planning on developing an LH₂ fuelled airliner (BTW the cryogenic fuel tanks are in the rear section of the aircraft instead of the wings...what could go wrong?).
It is almost the same. Think of it like this: someone buys an NFT linked to a piece of Art that is hosted by "ArtHostingCo". Next year "ArtHostingCo" is bought by "WeHateNFTsLtd". There is nothing forcing the new owner to keep hosting that art. So it simply removes it. So who bought the NFT may still have a copy of the Art (same as anyone who copied it, lets not forget), but the NFT that says you are the owner(or patreon) points to a nonexistan address, so you basically own a couple of bits that are worth less than....actually, i think the peoper would still have more value that the NFT.
NFT are bad, even with eco friendly crypto.
PoS is supposed to save 99.9% less energy than PoW, so 1/1000th the energy usage. It sounds like DAZ is working to address a couple of our concerns by supporting an NFT that uses less energy and tries to eliminate art theft and copyright infringement. I still have no interest in NFTs and crypto currencies, but well done DAZ for listening and making changes.
Now, how about fixing search for the store and forums? Just teasing, lol.
...ah the Dot com bubble, remember that well. Was supposed to put Portland on the map as the new west coast tech mecca. Lots of new fancy and expensive development was underway then *pop*. I remember one firm having to auction off condos in a new high rise development they just had built because the buyers that were expected to relocate here never did.
They are, from what I am reading, actually Delegated Proof of Stake (DPoS), from what I understand it's a more democratic form of PoS. Well, I'm glad they choose a more efficient way of doing things.
@Zylox, would you have a link to those figures?
And just wondering, who else is reading this thread while waiting on a long render?
Even so, NFTs still have no business being on THIS site. They have nothing to do with art or artists IP. Apples and oranges. There is nothing that will ever make US the buying audience for those things, yet they share the same importance in the store now as the 3D products. As long as I see them when I come here, I will not buy one more thing. Eventually, I won't visit either. Greener pastures or other hobbies.
This suggests the battle is even more important and epic. This far, no further!