Opensea has been exploited by a group of hackers notorious for flash-loan attacks, but this time it was different. They used a complicated bug in the contract to steal users their NFTs & tokens.
— ZachXBT (@zacheryxbt) November 13, 2023
Revoke NOW :
🔗https://t.co/9G6JEGtQsc#OpenseaHack #OpenseaExploit #OpenseaBreach pic.twitter.com/a5S4VIQLK0
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Not only are NFTcels blind after their little conference, but now they don't own their jpg files anymore.
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I get NFTs on paper but pushing them in centralized applications and then learning they don't even encode the data on the blockchain usually is hilarious.
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They so easily could have too, it majes no sense? How expensive could a few kb of base64 text possibly be
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An entire Bitcoin block is 2MB so it's very expensive.
EDIT: granted, this is all ETH, I don't know much about it.
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1. Eth is much bigger and publishes a block every 12 seconds.
2. You can use an L2 which is another chain which just updates itself on the main Eth chain every once and a while.
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It makes plenty of sense. Nfts are just an idea you use to associate dumb pictures with crypto. Nfts could just be a spread sheet on some furry's computer that he manually updates and they would serve the same purpose.
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there actually are two different decent use cases for NFTs but nobody implemented them.
NFTs as transferrable but not copyable limited digital coupons/gift certificates without the issuer needing to run an entire ownership tracking and accounts system
NFTs as vidja game items so they can be traded out of game
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First example: just pay someone else to run a tracking system if you want it so bad. The decentralized aspect just seems like a pain.
Second example: just run an app. There's absolutely no reason for the decentralized aspect.
Neither of your examples benefit from being nfts. There's a reason no one actually does the things you suggest outside of trying to get in on crypto hype.
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