Apparently one of the big new buzzwords in the consumer tech space this year is the Non-fungible token:
https://www.investopedia.com/non-fungible-tokens-nft-5115211
Samsung’s using this technology on their upcoming smart TVs because they need to have some sort of strange competitive edge. One example they cite is that owners can buy one of Samsung’s upcoming Smart TVs and then spend more money to purchase digital artwork on their store that has one of these tokens on it. The artwork then disappears from the digital store forever once purchased and then is tied to that owner’s account. They then can transfer “ownership” by giving the token to another owner who also has the same smart TV to be used for on their TV.
Knowing how this is going to fail while laughing at it all because all of it is inconsequential if this technology fails is a lot more entertaining when people aren’t getting coerced into using it because “someone else in power said so and you’ll lose your livelihood if you don’t,” but that’s just my train of thought. I mean, it’s going to be an uphill battle for them to eventually get to the point where people need to use this technology for more essential things in society like authorization for you to even set foot in a store to buy food or interact with the rest of civilization if where you’re starting from is by tying this technology to digital collectible items lol.
I kind of wanted to know what your take is on all of this. I have a feeling that Sony, Microsoft, and the PC space in general would want to implement this as well for their own platforms because that’s the current mindset in the Western World to make everything digital, while Japan in general prefers physical (heck, even western IPs use Japan a lot for their high end collectible items like figurines and statues), but backing that physical object with advanced technology.
I don’t see much point to talk about this since everyone already is. I would just be saying what others are saying. I’m trying to think of a historical metaphor for this though.
This site began talking about disruption and Blue Ocean Strategy. The point is that many businesses do not understand how to utilize ‘technology’. Those are business books on how to utilize technology in a value particular way. Certain things provide value to consumers, other things do not.
These companies are like kids who throw spaghetti against the wall to see what sticks. Due to investor pressure, these companies have to embrace the ‘latest technology’ which isn’t really technology but the ‘latest trend’. We need to stop saying they are ’embracing latest technology’ and really say ’embracing latest trends’. They remind me of a clothes store.
I think the big money is in the simpler ‘dumbed down’ approach to so-called ‘technology products’. I think cars without a gazillion microchips would fly off the shelves, but government regulations prevent them from being made (the same with appliances). But entertainment products do not have such regulations. So when a NES or Gameboy or Wii appears [simplistic compared to competition], they fly off the shelves.
If a product is too complicated to understand, it is going to be too complicated to sell. I don’t think the average consumer is going to care. No one has ever said, “NFTs? Someone open the door! I have to rush out and buy it RIGHT NOW!”
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