Hasbro is considering entering the NFT market. (link inside)

[3drinks]

Idk who this source is but it does seem to have a lot of following, do maybe it's notable.

[Sinis]

I'm unconcerned with blockchain integrity, or what that token might represent. If it isn't paper in my hand, I'm not all that interested.

Sorry not sorry.

[Feyd_Ruin]

hmmm.
One man's joke is another man's business venture.

[TheAmericanSpirit]

The more I find out about this nft stuff, the more benign it seems. Out of all the Hasbro villainy in recent years, this isn't even actually evil. Maybe if they can make this nft move lucrative enough, they'll stop running the game economy into the ground. One can hope.

Edit: this doesn't really belong in the edh forum, does it? This feels like a "Magic General" or "Rumor Mill" topic.

[Dragoon]

The only "good" use of NFT in Magic that I can see might be for ensuring original, genuine copies of RL cards, maybe? But that isn't in the hands of Hasbro.

[JWK]

Maybe I'm missing something, but NFT seems to be something more or less designed to rip off people with too much money and too little sense. As long as it doesn't result in actual, playable cards that other players can't access - and nothing I've seen so far suggests that - I don't see it as anything other than a way to part fools from their money.

[folding_music]

heard about this on twitter a day ago and I have put away my cards and stopped thinking about them <3

[brainface]

So are NFTs the new "the cloud"?

[3drinks]

Edit: this doesn't really belong in the edh forum, does it? This feels like a "Magic General" or "Rumor Mill" topic.

Yeah, I don't actually go on other sections of the site so I didn't even bother with looking around elsewhere.

[Mookie]

Maybe I'm missing something, but NFT seems to be something more or less designed to rip off people with too much money and too little sense. As long as it doesn't result in actual, playable cards that other players can't access - and nothing I've seen so far suggests that - I don't see it as anything other than a way to part fools from their money.

My reading of this is that NFTs are the digital equivalent of owning the original of something - anyone can have a poster of The Starry Night, but only one original exists. Similarly, if you specifically wanted to own a specific Bonfire of the Damned, this is a way to do so (or at least, for its digital equivalent). If you're not into collecting, then yes, this seems irrelevant... but there are definitely people out there that are willing to spend a lot of money on original art and other collectibles. Hard to say whether there will be a market for MTG NFT stuff though.

[TheAmericanSpirit]

Edit: this doesn't really belong in the edh forum, does it? This feels like a "Magic General" or "Rumor Mill" topic.

Yeah, I don't actually go on other sections of the site so I didn't even bother with looking around elsewhere.

I mean, that's fair. Everyone knows all the cool kids hang out here.

[Wallycaine]

Maybe I'm missing something, but NFT seems to be something more or less designed to rip off people with too much money and too little sense. As long as it doesn't result in actual, playable cards that other players can't access - and nothing I've seen so far suggests that - I don't see it as anything other than a way to part fools from their money.

There's definitely longer and more detailed explanations elsewhere on the internet, but one of the big objections people have to NFT's is the environmental cost. Cryptocurrency in general, of which NFT's are a part, burn through ridiculous amounts of energy mint these transactions. So if it was just a "harmless" scam, I'd be less annoyed at the possibility, but offering NFT's would be a quick way for Wizards to effectively reverse whatever gains they've made on reducing packaging waste, for instance.

[darrenhabib]

I had literally never heard of NFT until yesterday so still getting my head around it.
It seems like you don't own any rights to the subject matter itself, you just own the "digital idea" of something but can't copyright or get royalties on use or whatever.

Now when the sale of NTF for twitter first post went for around $3,000,000 then you know that there is serious interest in the general idea of these being big time investments.
Is this extremely misguided or are they ahead of the curve in getting in early on what is set to explode?
Back in 1994 I was like "Who would pay $45 for a Black Lotus? It's just a piece of cardboard". Those are words that came out of my mouth.
As you can imagine these days I'm a little less inclined to dismiss the potential value of things because I don't quite understand the concept or what the future might be.

Honestly I think what will happen is that a handful of big investors will buy up most of the NTF of Magic cards at the initial sale.
Rather than John Doe buying the NTF for his favorite Commander card, instead it will be Blue Chip Inc that just does a general buy up with the idea of it being a "risk" investment with high reward.
I think this is going to be less about the actual players getting a part of the MTG history and much more about corporate investments and the sale of them between other big investors.

Anyway all this NTF to me is no different to the sale of gold on the stock market as most of it literally doesn't actually exist in a physical form. Those gold bars that you are buying and selling don't actual exist. But it doesn't matter because it is just the idea of trading something for something. What the "something" is doesn't matter as long as people see value in it.
It's another virtual currency and most currency is virtual these days.

[Treamayne]

Blah blah Hasbro blah blah blah cash grab blah blah ignore repercussions...

https://en.wikipedia.org/wiki/Non-fungible_token

https://www.theverge.com/22310188/nft-e ... to-art-faq

[BeneTleilax]

Mostly NFTs seem like a scam given how the actual links are hosted. It's gonna be the much-dreaded death of MODO but with likely thousands more dollars going to waste.

[JovialJovian]

There are no protections for NFT buyers. You're basically just receiving a digital receipt for your purchase, no goods change hands, not even digitally.
Buying an NFT of that picture of Oko would entitle you to say you own the digital upload of that picture, but not the physical original (if it exists), nor any copyright on the picture. On top of that, since there is zero accountability or protection, and nothing but the money ever changes hands, buyers are finding the links to their purchases suddenly unhosted, leaving them with literally nothing.

People and businesses are jumping in right now to sell them before the idiots willing to buy them realize that they're literally exchanging money for nothing. Hasbro stands to make some quick cash for no effort, and without distributing any goods or sacrificing any assets; why wouldn't they take advantage?

[Sinis]

... but there are definitely people out there that are willing to spend a lot of money on original art and other collectibles. Hard to say whether there will be a market for MTG NFT stuff though.

As someone who is a collector, I still think this is stupid. I want to be able to show it off. Or look at it. Looking at a blockchain token isn't the same.

[camerondean]

nft is dying man

[Legend]

For some reason, this thread says there was a post two hours ago but I don't see a post. Perhaps someone who has me blocked made a post?

Anyways, I guess we were right. NFTs are a scam. It's just a digital address. I remember telling a LGS owner that NFTs were a scam when the image of a basketball sports card sold for $300k. In 24 years I've never seen him get so annoyed. He thought he'd got in early on the next big thing (which he's actually very good at).

[Sinis]

For some reason, this thread says there was a post two hours ago but I don't see a post. Perhaps someone who has me blocked made a post?

It could have been a spambot who then had their content deleted. I, for one, would rather this get buried forever as an idea.

[TheGildedGoose]

To reiterate:

No
%$#%
Thanks

[DirkGently]

For some reason, this thread says there was a post two hours ago but I don't see a post. Perhaps someone who has me blocked made a post?

Anyways, I guess we were right. NFTs are a scam. It's just a digital address. I remember telling a LGS owner that NFTs were a scam when the image of a basketball sports card sold for $300k. In 24 years I've never seen him get so annoyed. He thought he'd got in early on the next big thing (which he's actually very good at).

I think you can still see posts from people you've blocked, they just can't see yours. Correct me if I'm wrong.

[hyalopterouslemur]

hmmm.
One man's joke is another man's business venture.

I mean, sure, if you ignore that NFTs, like crypto before it, seem to be little more than a Ponzi scheme. And the original point of NFTs were distribution rights to clips, so things created just to be NFTs remind me a great deal of comic book speculation in the 80s and 90s. You know how every issue was a collector's edition? It was a #1 or a #0 or had four variant covers or a lenticular card or a chrome cover or some such? Thing is, that doesn't work. I've said it before, I'll say it again: If everything is special, then nothing is special.

Eventually the market realized this too, and it actually drove Marvel Comics into bankruptcy.

Of course, now that we know it's a scam, what do we do?

(As an aside, yes, crypto fools going to the government for a bailout makes me warm and fuzzy on the inside. But I am keeping track of who votes for said bailout.)

[TheAmericanSpirit]

Lol at everyone who blew their wallet on nfts, I guess.

So much too for hoping that Hasbro would make enough dumb dough off this to cheapen the game's buy-in cost in any meaningful way, I guess.

[TheGildedGoose]

Lol at everyone who blew their wallet on nfts, I guess.

A lot of them are economically anxious victims of late capitalism and are looking for a way out of that hellhole and were bombarded with nonsense by a bunch of wealthy scammers. I mean, yeah, caveat emptor, but I feel a great deal of sympathy for them. It's tragic in a lot of ways.