7 Matching Annotations
  1. Sep 2021
    1. What he’s not doing is raising a bunch of venture capital and doing a traditional startup

      Well... that's the good part of it...

    2. isn’t the point to own it, and the point of owning it is to control how it’s used?

      This is where my scepticism comes through. The whole ecosystem is based on ownership. Whereas I was under the impression we are moving towards an era of less ownership and more accessibility to goods (cars, electric steps, tools, overnight stays etc). So why own a piece of digital game paraphernalia when you only want access to...you know...actually play the game?

    3. On Wednesday, Hofmann announced “synthetic Loot” — essentially, a replica Loot bag that can be claimed by anyone who sets up an Ethereum wallet for free.

      So after he made a bunch of textfiles in his garage, he copied them and gave them away for free. To anyone who becomes part of the crypto-ecosystem through Ethereum. Get people in the scene, get them hooked, make money....

    4. One idea he had was to let people create (or “mint,” in blockchain-speak) NFTs based on his random-item generator for free — essentially just to see what would happen. He would not provide any art work or any instructions on what to do with them. And he would give these “bags” of items away for free, minus the transaction fees required by the Ethereum network.

      So to find some analogy, Hofmann created a garage with tools. People could create whatever they want with the tools. No instructions are given, use your imagination. You can take whatever you created with you. You only pay a fee to take it out of the garage and be the real world owner of it. Something like that?

    5. developers have grown fond of an alternative blockchain, Ethereum, which is designed to let them create decentralized applications through more sophisticated smart contracts than Bitcoin enables.

      I need to find an easy example of such an application where Ethereum plays an important role.

    1. “The internet is now a place where everyone has an inventory.”

      Also the decentralized nature of it all makes it so interesting to explore. Keep your inventory in your own wallet on your own domain under your own terms.

    2. This entire world is built on the assumption the internet will never die, which reflects a pretty big cultural shift in how we think about technology.

      I get dizzy from reading what is happening with new ideas like NFT, Web3 and blockchain. It's all a big blurry tangled ball of wool I need to unravel. What most surprises me is how gamified the movement is.