Nothing can withstand the NFT hype, and its supporters are skeptical

The consumer tech company Nothing, which was started by Carl Pei, one of the founders of OnePlus, has started a project called Black Dot that uses tokens that can’t be traded. Its followers are wary of it.

In the short film Black Dot, there is a clear cube that turns with a black dot inside and a metallic sound. If you like how simple the design is, you’re not alone. The look is a hit. Why am I a good fit for NFT?

Nothing lets its stock crowdfunding investors use MetaMask or other self-custodial wallets to get their collectibles back. When the NFTs go live on July 7, anyone will be able to buy things from the Opensea marketplace. No one knows how much the company charges for the bouncing dots or even whose blockchain it is currently using.

Google Ventures has helped a business in the early 2020s get some attention from tech fans and influential people. Contrary to what most people thought, Nothing’s new wireless earphones and Android-based smartphone are a breath of fresh air in a sector that has been pretty stagnant.

On the other hand, fans are not so sure. As of Wednesday, most of the comments on its Instagram post about Black Dot were negative. User: Another said, “You guys have definitely gone off the rails.” “It’s a waste of time and money to do something that doesn’t need to be done. Instead of spending money on a new phone, you should put it toward other cutting-edge technology. “Another one.

Those who agree are right. London-based Nothing, which sells transparent earbuds for $99 and smartphones with light strips, is likely to have to spend more on custom manufacturing and quality control than its South China-based competitors in order to compete with companies that make more utilitarian hardware.

The company’s vague explanation of the NFT initiative is not likely to persuade its critics. Or, my eyesight might not be as good as it used to be.

“We’re all nothing. They’re just dots on the vast and strange map of existence. These seemingly small dots, on the other hand, should connect. Then, something new happens. Something new is imagined. Belief becomes real when it’s put into action. The rules of the game.”

To be fair, real blockchain companies have already put web3 features on smartphones. Solana, one of the most well-known blockchain networks, released its web3-based handset earlier this month. The goal of this device is to make it easier to use blockchain services on mobile devices, which is hard to do right now.

Not all NFTs are done out of greed. People think that this technology is a good way to confirm that someone is a member of a group or can attend an event. This will help cut down on fraud.

When Nothing’s first phone is set to go on sale, adding NFTs may scare away users who associate NFTs with scams, speculative activities, or elite social groups. This is because many collectibles had high prices before the crypto crisis.

Nothing might want to stop promoting an animated cube with a vague artist’s statement and think about where it wants to go in web3. No matter how crypto-friendly the phone is, if the user experience isn’t up to par, it doesn’t matter.

Polygon, a business with a lot of money that wants to increase the number of transactions on the Ethereum network, has joined forces with Nothing. A blockchain magazine called Decrypt says that the two plan to add a decentralized identification system, apps, games, and payments to the Nothing phone.