The crypto world of 2020 saw the term "NFT" go main stream.
Now a lot of people on LEO would naturally think DeFi was the 2020 crypto term. I feel DeFi is already winding down and NFT is taking over.
Everyone says "come join our game/project" you can get NFT's!!
The WAX blockchain says come over and check out our deal with Topps you can open packs of Garbage Pail Kids and have NFT's!!
But what does NFT mean?
Let's look at the Hive Blockchain:
You can get an NFT of a Splinterland card, a dCity building, a Beer in Brewmaster and many others.
But what do you actually get? All NFT's on Hive that I have seen are custom_json writes to the blockchain.
This custom_json should record what you own.
Let's take a look at some.
So in this screenshot we see the game cryptobrewmaster created a custom_json. It has important info like a username: steliosfan and the NFT the user is interacting with name: Bella - Wheat IPA.
With this info we know this player has a Wheat IPA. We don't know what a Wheat IPA is but we know the player has one.
Here is another screenshot:
In this we see that frankcapital send to alricstormbringr a card called "C4-186-XMUUHQR9S0"
We don't know what this card is. We have to the game to find out what it is, lucky it tells us app: splinterlands/0.7.73
So what did we get ?
Players of these games would say I got an amazing IPA! and I got this super powerful card in Splinterlands!
But how do we know this? I would say we don't. If Splinterlands shuts down tomorrow all I own is a string of characters.
What if somone else starts a game like Splinterlands and says you can bring in Card "overpowered" to our game and we will give you 1000 Amazing Gems for it.
You say "ok" I will transfer it to you, but Splinterlands is having issues. So you say just check the blockchain, I own it!
the new game company says we only see a card name :C4-186-XMUUHQR9S0 we don't know what this. So you miss out on the promotion.
So what do you really own?
I am not knocking NFT's. I feel they are super important but if we are buying them thinking we own something and full control over it. We need to understand what we are actually buying.
Let's discuss
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