A lot to agree with here. NFTs are generalised ownership records not just jpegs. But on the #IC they can be even more than this. They can be object capabilities, fully featured programs in their own right or even worlds.
BTW Object capabilities are keys 🔑 they can be handed to people to let them use your car 🚗 (software). This is a rich model that people haven’t really fully explored wrt NFTs. en.m.wikipedia.org/wiki/Object-ca…
With BC/IC The car 🚗 itself can be an autonomous thing that key 🔑 holders can control rather than an external thing where rights are given to notional owners by the good graces of their true controllers, and indeed the car itself (canister/SC) can be transferred.
The concept of transferable rights and powers. Is richer than the concept of ownership.
What the IC adds is simply that the SC/canister/car can be sophisticated enough to be interesting rather than a reference to something outside. The canister can literally be any program, any data, any content all hosted autonomously.
I think we will see all sides explored:
1) NFTs as representatives of real (socially and legally mediated) rights. 2) NFTs as representatives of (autonomous software mediated) rights. 3) NFTs as digital shadows of real world objects. (IOT identifiers of things you encounter)
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Obviously I’m a massive #IC fan. The technology is amazing. It is the only blockchain thatmakes web3 a reality and allows non-speculative genuinely useful applications to be built (e.g.dfinity.org/showcase) but it isn’t without flaws so that is what this thread is about.
1. Token launch was fluffed. Initial pump and then crash was disastrous for confidence as was locking in pre-genesis investors against their will. It would have been far better to let the market clear, distribution to improve and price to find its correct level.
Expected order… 1. NFTs 2. Cross chain DEXs and DeFi 3. Games 4. Start of a sustainable Creator culture economy 5. De(Social, productivity & media) 6. Real sophisticated DAOs 7. Pan Enterprise & IoT
1. NFTs are the obvious first win. Already loads of players and actually being able to host content is huge. Need to get the whale players onboard though.
2. BTC integration and chainkey more generally is the trigger for the next wave. Cross chain non custodial DEXs will start to really eat into CeX and single chain DeX market.