Comment by kevinsync

Not to derail, but NFT mania (part of the opening salvo in the article) was the giant shitshow that it was -not- because the concept of unique digital bits in the possession of a single owner was a bad idea (or, the concept of unique verification of membership in a club was a bad idea) -- it was a diarrhea-slicked nightmare because it was implemented via blockchains and their related tokens, which inherently peg fluctuating fiat value to the underlying mechanisms of assigning and verifying said ownership or membership, and encourages a reseller's market .. not to mention the perverse, built-in economic incentives required to get nodes to participate in that network to make the whole thing go.

Had NFTs simply been deployed as some kind of protocol that could be leveraged for utility rather than speculation, I think the story would be a complete 180. No clue personally how to achieve that, but it feels like it could be done.. except that, too, would have been completely perverted and abused by centralized behemoths, leading to a different but terrible outcome. Can you imagine if all data became non-fungible? Convince all the big identity vendors (Google, Apple, etc) to issue key pairs to users that then get used by media companies to deliver audio and video keyed only to you that's embedded with maybe some kind of temporal steganographic signature that's hard to strip and can be traced back to your key? It's not just cracking AACS once and copying the bytes. It becomes this giant mess of you literally can't access anything without going through centralized authorities anymore. Then build more anti-patterns on top of that lol. Prolly better that it was mostly just monkey JPEGs and rug pulls.

Anyways, I'm so far off topic from what's actually being discussed -- just couldn't help myself from veering into left field.