this post was submitted on 07 Sep 2023
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So, if I understand correctly, the content passes use a blockchain system for authentication, but aren't intended to be used as a currency or investment vehicle and can't be resold or traded. It just uses a blockchain for authentication. The reason why it blew up is because the payment processor was originally meant for nfts and crypto.
Soooo... Basically it sounds like a bunch of people getting upset for no reason because they think blockchain = crypto. Cool. Amazing. Absolutely wonderful. Tbh I don't really care about whatever the Mr. Beast thing is, but the fact that people are confusing the two frustrates me because I could see blockchains having legitimate uses, it's just that scam artists and get-rich-quick schemes have fucked it up.
Maybe it would have turned into an nft scheme, but as it stands right now, it sounds like they were trying to use a blockchain in a legitimate manner.
Pretty much, yeah. Seems that people heard the phrase "blockchain" and instantly assumed the idea was to flog NFTs, which is unfortunate for the people behind the platform.
That said, this seems to be yet another example of people using blockchain unnecessarily. Wouldn't a centralized database/authentication server have been a simpler choice?
By far, which is why many people assumed that the plan was to start flogging NFTs later (once it became more difficult to back out).
Possibly, although there's also the fact that "blockchain" is the trendy new buzzword that companies like to use because they think it makes them look cool.