Home U.S. Coin Forum

Physical stamp married to an NFT Edited to include coin link

jmlanzafjmlanzaf Posts: 34,560 ✭✭✭✭✭
edited September 24, 2022 10:41AM in U.S. Coin Forum

https://cointelegraph.com/news/post-offices-adopting-nfts-leads-to-a-philately-renaissance

The target audience is probably not you. But every collector is a valued collector.

Edited to add this interesting coin link:

https://filipniziol.medium.com/blockchain-nft-for-real-world-numismatics-881ab3ab8435

Tagged:

Comments

  • TomBTomB Posts: 21,323 ✭✭✭✭✭

    Perhaps I will be laughed at, but I am just not a believer in the utility or need for NFTs. Please note that I did not write that someone could not make money off of NFTs, but rather I see no other real-world need for these.

    Regardless, I read the linked article and still don't see how folks are gravitated to them. My guess is that stamps are a better entry point for NFTs since stamps are traditionally more like static images or portraits that may overlap more completely with some NFT productions. Again, I don't see the allure, but have no doubt that someone will make money and that it might transfer to a certain population of coin collectors.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I researched the NFT issue when it first started. I was not interested in owning a 'share' of anything... especially if I could not possess it. So, for me, it is a non-starter. Would not matter what product was represented. Good luck to those who choose to be involved. Cheers, RickO

  • jmlanzafjmlanzaf Posts: 34,560 ✭✭✭✭✭

    @ricko said:
    I researched the NFT issue when it first started. I was not interested in owning a 'share' of anything... especially if I could not possess it. So, for me, it is a non-starter. Would not matter what product was represented. Good luck to those who choose to be involved. Cheers, RickO

    If you read the article, it is tied to a physical asset

  • WCCWCC Posts: 2,616 ✭✭✭✭✭

    Will it work with coins? Not in my opinion.

    I don't believe the NFT concept will last, not as a financial concept.

  • 124Spider124Spider Posts: 947 ✭✭✭✭✭

    NFT as a way of "proving" authenticity is a strange concept, to me. In the first place, blockchain in general is not sustainable, IMO (Bitcoin all by itself uses more electricity than the country of Argentina). Secondly, I see very little value added, given the immense expense and the fact that we have pretty good TPG already.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    @jmlanzaf .... Yes, I realize that. However, that 'real' asset resides elsewhere... In other words, and NFT share is bragging rights without the possession. Cheers, RickO

  • WCCWCC Posts: 2,616 ✭✭✭✭✭

    @124Spider said:
    NFT as a way of "proving" authenticity is a strange concept, to me. In the first place, blockchain in general is not sustainable, IMO (Bitcoin all by itself uses more electricity than the country of Argentina). Secondly, I see very little value added, given the immense expense and the fact that we have pretty good TPG already.

    You are far too kind. Cryptocurrency "mining" is pure economic waste. It's literally wasting resources on nothing. It has value, but that's only because financial values exist independently and are totally detached from the physical world. That's the only reason cryptocurrency, NFTs, "meme" stocks, SPAC, and real operating companies which have never generated a profit ("worth" billions) are worth anything.

    Conceptually, NFTs make about as much sense as buying "real estate" in the "metaverse".

  • jmlanzafjmlanzaf Posts: 34,560 ✭✭✭✭✭

    @124Spider said:
    NFT as a way of "proving" authenticity is a strange concept, to me. In the first place, blockchain in general is not sustainable, IMO (Bitcoin all by itself uses more electricity than the country of Argentina). Secondly, I see very little value added, given the immense expense and the fact that we have pretty good TPG already.

    The NFT discussed was in the HIGHLY SUSTAINABLE Ethereum network which uses proof of stake not proof of work.

    Your "pretty good TPG" could well be the one issuing the NFT.

  • jmlanzafjmlanzaf Posts: 34,560 ✭✭✭✭✭
    edited September 23, 2022 3:13PM

    @ricko said:
    @jmlanzaf .... Yes, I realize that. However, that 'real' asset resides elsewhere... In other words, and NFT share is bragging rights without the possession. Cheers, RickO

    That is not (necessarily) correct. The stamps discussed in the article are physically in the possession of the NFT owner.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    @jmlanzaf... Once again, yes, I realize that, they are in the hands of the owner that originated the NFT.. NOT in the hands of those who purchase the NFT. It is a 'digital asset'. It is a place on a blockchain signifying the purchaser. They are, effectively, digital bragging rights. Cheers, RickO

  • jmlanzafjmlanzaf Posts: 34,560 ✭✭✭✭✭

    @ricko said:
    @jmlanzaf... Once again, yes, I realize that, they are in the hands of the owner that originated the NFT.. NOT in the hands of those who purchase the NFT. It is a 'digital asset'. It is a place on a blockchain signifying the purchaser. They are, effectively, digital bragging rights. Cheers, RickO

    Again, this is not true. Purchase of the NFT would also come with possession of the coin.

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file