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[–] 1 pt

NFTs that generate attributes inside the contract code, including generating the art itself inside the contract.

One simple example of this is LOOT, it generates the item list for a unique loot bag per-token. The same team now has a "Realms" token that generates a unique fantasy map per token.

There's a lot of stuff that can be done there though it's tricky to work around the limits of what can be output on-chain by the code that runs in the contract.

[–] 0 pt

Even still, are they not just an electronic equivalent of tulips and beanie babies?

[–] 0 pt (edited )

The tulip thing was always a retarded analogy, because tulips were never a widespread medium of exchange. But NFTs aren't meant to be fungible so that doesn't apply either.

As for beanie babies, not really because those aren't scarce at all. While NFTs that are generative like I mentioned aren't really valuable in and of themselves (and IMO aren't meant to be, I think they have the most utility when they cost fractions of a penny to interact with) they can be used in interesting ways, like games that you can interact with in a fashion that isn't possible to cheat and can be interacted with outside of the purview of the game's creator.

That's a trivial example but it still shows there are uses for NFTs that aren't just uploading an image that anyone could download for free.

NFTs like the generative ones don't have to be inherently valuable to be interesting to mess with. But my broader point is that uploading an image using NFTs is the most base level and stupid use of the technology.

[–] 0 pt

Maybe I could clarify my question. Are they not just a dumb techno fad?