Listen now | Things got shuffled around a little bit and instead of hearing about, “Who still does ML tooling by hand?,” this week my attention shifted to writing down my thoughts on NFTs. This happened in part due to a lengthy conversation I had about the future of NFTs this week. Part of that conversation was distilled into this series of thoughts on the subject. This was almost an interview edition of the podcast. Given the length of my current topic backlog the topic being replaced may not surface again or will have to be incorporated into something else along the way as a sort of bonus topic. I’m on the lookout for the first mainstream use case for NFTs. To qualify that statement I’m going to describe mainstream as millions of users doing something (that something is the basis of what I would consider a use case) on a regular basis with NFTs facilitated by a marketplace.
Though I'm tinkering with them, I’m generally not high on publicly traded NFTs. As a means to proving provenance it’s fine. But the security of the asset long-term and it’s viability is so subject to the momentary whims of the market it’s only feasible if you’re a recognized name which lets you inflate the value of this as a commodity for a period of time.
More broadly, NFTs seem to have a pretty limited resonance with the world at large. Certain circles, including professions, seem to see some promise in the ability of NFTs to correct market weaknesses for their skilled output (see digital artwork or photography). I could definitely see benefits here.
I don’t yet see any deeper value on the consumer side, which is ultimately fine except that everyone seems to be pushing NFTs onto consumers really heavy right now.
Though I'm tinkering with them, I’m generally not high on publicly traded NFTs. As a means to proving provenance it’s fine. But the security of the asset long-term and it’s viability is so subject to the momentary whims of the market it’s only feasible if you’re a recognized name which lets you inflate the value of this as a commodity for a period of time.
More broadly, NFTs seem to have a pretty limited resonance with the world at large. Certain circles, including professions, seem to see some promise in the ability of NFTs to correct market weaknesses for their skilled output (see digital artwork or photography). I could definitely see benefits here.
I don’t yet see any deeper value on the consumer side, which is ultimately fine except that everyone seems to be pushing NFTs onto consumers really heavy right now.