Apple is getting into the NFT game. For those who are excited about this, it comes at a premium. Apple is going to take 30% on any NFTs sold on their platform.
In this video I discuss how this is what we will see going forward. Corporations are going to be the major intermediaries. We can see how they are against the basic tenets of cryptocurrency.
▶️ 3Speak
Sounds new to me, I guess I gotta continue engaging with blockchain and crypto news am missing a lot thanks for this Sir
Not much to miss in my opinion.
Anyone who sells a NFT on Apple has a screw loose. Why pay 30% to them?
That is why we need infrastructure to compete.
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A bunch of non-crypto people will get into NFT's through this method. Whether or not that's a good thing is to be seen but it has the potential to increase the userbase at least.
It is always a good thing. Millions got onto the Internet through AOL, which was a centralized system.
Yet that ended up dying and the Internet exploded.
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I think it's comical how many people think Apple cares about their privacy and data just because they slap companies like Facebook around and don't allow them to scrape data from their phones. Like... no... they just want all the power and data to themselves.
Well to be fair, Apple is one of the better ones with data. They dont seem to have the breaches or hacks like the others do. Plus they are always willing to tell the USG to fuck off.
That said, you hit the nail on the head: control. Make no mistake, Apple is in it for themselves and to leverage each user for maximum gain.
Tim Cook is just not as much of a scumbag as Zuckerberg. He is just as ruthless.
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Sounds accurate.
Apple does have good security.
But that security comes at the cost of a very closed system.
30% is ridiculous but I think that was always the case. I remember a Facebook charity that said that 30% was cut off when being paid through one of the cellphone application stores due to the fees. They have dominated their own market and I don't think they plan on changing.
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No they are not going to give up control. That is why we need to keep developing infrastructure that routs us around stuff. We need to have alternatives.
It is going to be a long process since many layers of the Internet are centralized.
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Seeing how Cryptocurrencies are rising as a form of exchange, surely the largest companies also want their share
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Summary:
In this video, the speaker discusses the importance of building decentralized infrastructure in the cryptocurrency and blockchain space and highlights the increasing control of major intermediaries, specifically focusing on Apple's recent move to allow NFTs on its platform. The speaker criticizes Apple's high 30% commission on NFT sales and emphasizes the need for independent platforms for buying and selling NFTs without hefty fees. The speaker also warns about the increasing involvement of major corporations like Disney, Amazon, and Walmart in the cryptocurrency space, emphasizing the importance of maintaining decentralized control.
Detailed Article:
The video delves into the evolving landscape of cryptocurrencies and blockchain technology, pointing out the need for decentralized infrastructure to combat the growing influence of major intermediaries like Apple. The speaker underscores that the fundamental purpose of cryptocurrencies and blockchains is to eliminate the need for traditional financial intermediaries, yet intermediaries like Apple are gaining prominence.
The evolution of crypto is discussed, with digital wallets being mentioned as a significant step in reducing reliance on banks, followed by the ability of blockchains to facilitate peer-to-peer value transfers without third-party intervention. The speaker believes that the current Eurodollar system is broken and sees DeFi as a potential disruptor that could lead to a new system without banks.
The speaker transitions to discussing Apple's recent decision to allow NFTs on its platform, criticizing the company's motive as profit-driven rather than driven by a genuine interest in the technology. The high 30% commission Apple takes from NFT sales is labeled as excessive, prompting the speaker to advocate for the development of alternative platforms with lower transaction fees.
Furthermore, the speaker warns about the increasing involvement of major corporations like Disney, Amazon, and Walmart in the cryptocurrency space, emphasizing the need to prevent these entities from exerting control and exploiting users. The concept of a decentralized infrastructure is highlighted as pivotal to retain autonomy and limit the influence of such corporations.
In conclusion, the video implores the audience to recognize the industry's shortcomings and the growing dominance of intermediaries like Apple. The speaker advocates for the creation of decentralized platforms for buying and selling NFTs, stressing the importance of maintaining control and autonomy in the face of increasing corporate involvement in the cryptocurrency space.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.