The way I read the article, the “worth millions” is the sum of the ransom demand.
The funny part is that the exploit is in the “smart” contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches.
The way I read the article, the “worth millions” is the sum of the ransom demand.
The funny part is that the exploit is in the “smart” contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches.
NFTs are a joke, so it’s totally fine for a topic like this.
Like what is there to discuss? The entire concept is stupid. With NFTs the object isn’t even on the blockchain, the image isn’t there. It’s pretty much just some random information that says image x belongs to you (but you have to store image x somewhere else and can lose it).
When it comes to owning art either physical media or the rights to the image already do a much better job.
The only area where NFTs sound useful (but they aren’t) is things like trading card games. Where you can have a card in a game and you own it, but because it’s an NFT you could sell the card to another player outside the game. But the whole concept again breaks down, the game can simply block the card from being played later on or remove the card and you’re left with nothing (besides “proof” that you own the NFT for a card that existed in the past). It adds nothing of value that a normal entry in a database couldn’t provide.
One thing I’m still positive on: Crypto currency was a great idea, at least until Bitcoin was sabotaged with the 1 MB block size and transacting with it died along the way.