I really don't understand what the purpose of NFTs are in the context of an online marketplace.
The main selling point of anything based on a blockchain is that you can decentralize it.
But if its a marketplace... isn't that centralized and your right back to where you started with an online marketplace managed by a singular entity with most of the control and the actual benefactor of the marketplace itself?
The main selling point of anything based on a blockchain is that you can decentralize it
But if its a marketplace... isn't that centralized and your right back to where you started with an online marketplace managed by a singular entity with most of the control and the actual benefactor of the marketplace itself?
Well, the marketplace itself may be centralized, but the data in the blockchain itself isn't.
The marketplace doesn't need to be decentralized, since the important data is - the marketplace is exchangeable. As soon as an NFT is bought, the transaction is saved in the blockchain, the blockchain users acting like witnesses to confirm the purchase.
Let's imagine, you are buying a ring from a local jewelry. While you are purchasing the ring, 100 people are there in the shop with you, witnessing the transaction between you and the jewelry. Now, even if the jewelry closes down, you still have witnesses to confirm that YOU are the legitimate owner of that one specific ring.
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The end result is the same, blockchain or not. Which is what I end up not understanding.
I have a tough time thinking of a way around the problem of centralization in general. A centralized entity has a lot of power, but at the same time it seems like the only option at the end of the day. There's plenty of talk of decentralized technologies, but most seem to be smoke and mirrors.
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Pointing fingers and blaming people usually doesn't solve anything and usually just exacerbates the problem. This is especially true when there isn't a clear solution presented.
Great for click-bait and "discussions", not that great for productivity.
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I really don't understand what the purpose of NFTs are in the context of an online marketplace.
The main selling point of anything based on a blockchain is that you can decentralize it.
But if its a marketplace... isn't that centralized and your right back to where you started with an online marketplace managed by a singular entity with most of the control and the actual benefactor of the marketplace itself?
Well, the marketplace itself may be centralized, but the data in the blockchain itself isn't.
The marketplace doesn't need to be decentralized, since the important data is - the marketplace is exchangeable. As soon as an NFT is bought, the transaction is saved in the blockchain, the blockchain users acting like witnesses to confirm the purchase.
Let's imagine, you are buying a ring from a local jewelry. While you are purchasing the ring, 100 people are there in the shop with you, witnessing the transaction between you and the jewelry. Now, even if the jewelry closes down, you still have witnesses to confirm that YOU are the legitimate owner of that one specific ring.
The end result is the same, blockchain or not. Which is what I end up not understanding.
I have a tough time thinking of a way around the problem of centralization in general. A centralized entity has a lot of power, but at the same time it seems like the only option at the end of the day. There's plenty of talk of decentralized technologies, but most seem to be smoke and mirrors.
I'm not sure who "ruined web2", nor am I sure if you need the exact same people to "ruin web3", nor am I sure if blaming these people is productive.
If a system can be "exploited" in some way for monetary gain, it will be.
Pointing fingers and blaming people usually doesn't solve anything and usually just exacerbates the problem. This is especially true when there isn't a clear solution presented.
Great for click-bait and "discussions", not that great for productivity.
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