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@ Petar
2025-01-01 06:34:26
The art and collectables industry has real demand and a lot of enthusiasts’ worldwide, people around the globe have been collecting all kinds of things for many years. NFTs are quite a controversial topic within the Bitcoin space and I can understand why, with shitcoins being the main problem and yes ordinals are also in the shitcoin basket and are actually worse in my opinion then NFTs on other chains. The point of NFTs is not to embed a picture of your ass on the blockchain although stopping that behavior is unfortunately an unfeasible concept, in a world full of people idiots are going to idiot and we just need to learn to turn the other (butt) cheek. The point of NFTs is to replace items that don’t need to be physical just like what Bitcoin is doing for money. Collectable items such as sports cards, baseball, basketball etc, things like Pokémon cards and everything in-between do not need to be physical at this point in time. Even art like drawings and paintings deserve to have a place within cyberspace. Although there will always be a need and a want for physical drawings and paintings, there are a lot of fantastic artists that have dedicated years of their life creating digital art and it can’t be taken for granted.
There really is not a need for collectible cards to be on paper anymore, we live in a world where people now spend more time looking at their phone then they do looking at nature, so if we can validate the card as a digital image then it is simply more convenient and accessible. I am of the opinion that all fungible tokens that are not Bitcoin are useless shitcoins but I think non fungible tokens have a legitimate use case. The use case of being able to see who owns the collectable item, anywhere around the world, at any time and knowing the item will always be in mint condition. With physical collectables a lot of the time there is no way to tell if someone even owns it until it goes on sale, you can’t just go around to someones house and take a look at their baseball card because their address was publicly listed but with NFTs you can see the item sitting there at any moment of the day. There are currently countless blockchains with NFT market places that can validate the ownership of an NFT pretty good, with a few problems such as transaction fees in some cases and the fact that you need to buy a shitcoin to participate. The other problem is the ridiculous amount of blockchains that are not compatible with each other or Bitcoin, it is simply not feasible to have a million different ecosystems if NFTs are going to be globally used, also having to secure a bunch of different wallets is just a pain in the ass. Although blockchain technology is not some ground breaking solution that shitcoiners make it out to be, NFTs are the only real use case I have actually seen come from the space, I do believe in the mantra “Bitcoin, not blockchain” and the idea of thinking a blockchain is comparable to Bitcoin is like putting wings on a car and comparing it to a plane.
One thing I have thought of is that every shitcoin blockchain can integrate Bitcoin via the lightning network and every NFT marketplace can use sats as the unit of account. Much like how liquid stores sats and allows us to send and receive via lightning invoices, shitcoin chains could do a similar thing and have sats on whatever network which can be sent to the Bitcoin lightning network and vice versa. Integrating lightning is more feasible then trying to integrate on chain BTC and is also more useful, I think lightning is the future and everything will be compatible with it at some point. So if we could have NFT market places that transact with lightning it would be an ideal situation, the problem with ordinals is the fact that they use on chain transactions which is slow, expensive and spams the network with unnecessary information. The other problem is the scam that you have to spend a shit load of BTC to get one Satoshi in return and the Bitcoin network can’t even see it without running separate software designed to see your “rare sats”. I really don’t think NFTs need to be on a blockchain although I haven’t seen another way of doing it yet, furthermore there should not be fees associated with minting an NFT and the only thing people should be paying for is the sale price of the token. The big question I have wondered is if nostr can solve digital collectables, I have no idea how this would work, the collectable token would need to be attached to an individual’s private key but I don’t know if NFTs can work on relays in the same way that general information does. Perhaps it is possible to create a client specifically for this use case and other clients can add the feature with later updates. If nostr can solve this issue I think it would be a huge wakeup call to random blockchain technology and would come with more hype and sustainability then ordinals had before plebs ran out of money. Bitcoin and layer 2s like lightning are without question the only way forward and I don’t believe we have properly solved digital collectables yet, every attempt so far has major flaws. I do worry that the Bitcoin community is not to concerned about this issue because they don’t want to be demonized for shitcoining, my other worry is that some clowns may think ordinals have solved the problem but that just isn’t the case, so I do urge builders in this space not to overlook this area.