nafetS
1997
asset-backed nfts for authenticity are not a good thing in my mind.
Mar 19, 2022,02:03 AM
It‘s way easier to take over a digital wallet, than to steal a paper watch certificate. Hacking of crypto wallets, mostly through fishing, happens all the time and most people won‘t go as far as using a cold wallet. And there’s usually no way to really prove you got hacked. I really don‘t see any advantage for the customer. What would be in it for me, if i own such a certificate vs. what i have now? I don‘t get that.
In my opinion, the only NFTs that could in theory serve a purpose are those, that continuously give their owners real world value. AP handing out 5000 nft and granting the owners of those nft some sort of vip access or treatment. As long as someone owns one, he gets that vip treatment. If he sells the nft, he‘ll loose vip treatment but earn as much money, as someone else is willing to pay to get access to the vip treatment. And a customer could sell or buy the nft independently from his watches. Even though this would be a practical use, I don‘t think it would be a good one.
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NFT avalanche
By: VinnieD : March 16th, 2022-13:58
After Breitling some time ago, 2022 will be see the mass start of NFTs/digital passporting amongst the watch industry. Stay tuned in March-April to learn about the news. I cannot divulge much at the moment but there will be significant players starting to...
Audemars Piguet , LVMH
By: T.S. : March 16th, 2022-15:10
I have heard that AP may use the technology to support digital ownership certificate. LVMH will use NFT to promote buying and branding expérience
Ha, saw what you did there.
By: CGJ0 : March 18th, 2022-15:32
In my mind asset-backed NFTs for authenticity tracking is one of the only practical uses. Question is - will we all soon have digital wallets?
asset-backed nfts for authenticity are not a good thing in my mind.
By: nafetS : March 19th, 2022-02:03
It‘s way easier to take over a digital wallet, than to steal a paper watch certificate. Hacking of crypto wallets, mostly through fishing, happens all the time and most people won‘t go as far as using a cold wallet. And there’s usually no way to really pr...
Appreciate your thoughts.
By: CGJ0 : March 19th, 2022-18:40
I agree re: security (at present), but no different to someone losing access to a wallet I believe there will come a process whereby one can verify identity to retrieve access - no different to a bank account today. I think you’re right in terms of applic...
By: T.S. : March 16th, 2022-20:18
It wont work as the brand will compare your fake nft to the real one encrypted into the blockchain
Will the average consumer be savvy enough to verify it?
By: bchankai : March 17th, 2022-01:29
I mean, who among us knows how to validate the blockchain to verify that the NFT certificate of authenticity is real? I I know there are ways to validate that aren’t too onerous, but will there be a fraud market for verification? I’d guess for the vast ma...
Understand the concerns…
By: CGJ0 : March 18th, 2022-15:34
Where there’s a real demand for authenticity tracking/traceability I can very much see this as emerging rapidly, no different to a PayPal or other online payment processor, for which we pay little heed to the “risks”
Almost all the big groups are giving NFTs a shot...
By: patrick_y : March 16th, 2022-22:40
It's more about the PR/marketing/press value at this point than any real money being made. But as a consumer, I really don't care about NFTs. Just give me my watch darn it!
To be clear, I think it will be a flop
By: VinnieD : March 16th, 2022-23:17
But curious to see what younger generations might do about it given that - crazy as it sounds - their digital life is becoming more important than their real life
I do not get..
By: Ronald Held : March 18th, 2022-15:46
The NFT bandwagon.
