NFTs are supposed to be cryptographically secure and blockchain-tracked certificates of authenticity for digital goods. “This is a unique original work by so-and-so”. Any duplication wouldn’t have the same hash and thus is not legitimate.
There are plenty of good uses for this if you are of the mindset that digital goods need to be protected and proven as unique and original works. In a proper setup, it would negate the need for DRM and enable the legal sale and trade of digital media/games in the secondary market, by preventing unlawful duplication (piracy). This is beneficial because piracy, as GabeN prophesized, is an issue of service, not price. Consumers are typically willing to pay good money for good entertainment. They do not want to pay good money and find that a game is incomplete or poorly optimized, or to have less product (digital good) for the same price (physical good) (i.e., not being able to re-download after an arbitrary date, not be able to resell, lack of boxart, bonus content, etc).
NotMyOldRedditName@lemmy.world 10 months ago
You don’t need anything to anything, it’s just a theoretical improvement.
No one is hacking your email and stealing the barcode, or figuring out the algorithm and generating fake barcodes. There’s no risk that if I sell the barcode to someone else that I also didn’t sell it other people as well.
Ticket fraud is huge.
To then solve those problems you bring in middle men and they charge fees.
Reselling a concert ticket securely (from my perspective, not companies) cost me and the user 5% each.
An NFT concert ticket legitimately solves a lot of real problems more efficiently than existing technology.
But ease of use of crypto and transaction fees are still too high to make this a mass market solution. That’ll change though.