omariqy Posted November 22, 2021 Share Posted November 22, 2021 Spent some time researching these this weekend and understanding how it all works. I know we have touched on this in the Crypto thread but thought it deserved its own thread. Your thoughts? This is a pretty interesting article - https://www.bloomberg.com/news/articles/2021-11-19/thousands-of-images-from-pricey-nfts-are-being-offered-for-free Quote An Australian software developer says he has made thousands of non-fungible token images freely available, calling it an art project that aims to show the absurdity of property-rights concepts in digital assets. Link to comment Share on other sites More sharing options...
Popular Post PieFacE Posted November 22, 2021 VT Supporter Popular Post Share Posted November 22, 2021 I think NFT's have genuine use-cases (i.e ticketing and gaming). But NFT art is the biggest load of bollocks i've ever seen. 6 Link to comment Share on other sites More sharing options...
bcarpet Posted November 24, 2021 Share Posted November 24, 2021 because of the really bad eco impact they have, I can't justify getting into these Link to comment Share on other sites More sharing options...
omariqy Posted November 25, 2021 Author Share Posted November 25, 2021 On 24/11/2021 at 13:09, bcarpet said: because of the really bad eco impact they have, I can't justify getting into these What's that sorry? Link to comment Share on other sites More sharing options...
bcarpet Posted November 25, 2021 Share Posted November 25, 2021 2 hours ago, omariqy said: What's that sorry? They are just as bad as Crypto, people seem to think that because there is no travel, no physical materials etc that they don't do any damage to the environment, however that just not the case. While people are trying to clean them up, its just not there yet. For example; Quote Take “Space Cat,” an NFT that’s basically a GIF of a cat in a rocket heading to the Moon. Space Cat’s carbon footprint is equivalent to an EU resident’s electricity usage for two months, Source for the quote here 1 Link to comment Share on other sites More sharing options...
Kuwabatake Sanjuro Posted December 11, 2021 Share Posted December 11, 2021 The laugh is fitting. 2 Link to comment Share on other sites More sharing options...
Kuwabatake Sanjuro Posted December 30, 2021 Share Posted December 30, 2021 Lol 2 Link to comment Share on other sites More sharing options...
Genie Posted December 30, 2021 Share Posted December 30, 2021 43 minutes ago, Kuwabatake Sanjuro said: Lol 3 Link to comment Share on other sites More sharing options...
The_Rev Posted December 30, 2021 Share Posted December 30, 2021 He's still got the receipt for his jpegs, right? If so then I've got some magic beans he can buy. Link to comment Share on other sites More sharing options...
Xela Posted December 30, 2021 Share Posted December 30, 2021 I'm still none the wiser as to what the value of these ape pics are. /feeling old Link to comment Share on other sites More sharing options...
Kuwabatake Sanjuro Posted December 31, 2021 Share Posted December 31, 2021 3 hours ago, Xela said: I'm still none the wiser as to what the value of these ape pics are. /feeling old His collection was apparently "worth" $2.2m in real currency, it is absolute insanity. 1 Link to comment Share on other sites More sharing options...
HanoiVillan Posted December 31, 2021 Share Posted December 31, 2021 Link to comment Share on other sites More sharing options...
Rds1983 Posted December 31, 2021 VT Supporter Share Posted December 31, 2021 12 hours ago, Xela said: I'm still none the wiser as to what the value of these ape pics are. /feeling old Best I can figure out is that it's a new type of 'modern art'. Random picture of something that could be easily copied but for some reason people have decided they hold scarcity and subsequently value. Tracy Emin sold a 'messy bed' for £2.5m so I feel this is just an update on that nonsense driven by the Internet. 1 Link to comment Share on other sites More sharing options...
The_Rev Posted December 31, 2021 Share Posted December 31, 2021 (edited) You're kinda right. Art sales have always been shady, there are plenty of ways to launder money and avoid tax if you buy art. NFT's at the moment are more like a pyramid scheme and we are at the stage where the suckers deciding it's time to get in. *edit* Probably worth pointing out that the NFT isn't the image itself. An NFT is essentially a receipt for an image, or (as I've heard someone else say) a "map" to show you where to find the "treasure" which could be anything. There are definitely good use cases for them, property deeds are one I've heard, but pictures and stuff? It's shysters trying to cash in on hype and confusion, there are a lot of high profile (ish) cases of people trying to set a perceived standard price for, say, a drawing of a monkey. (tangential wikipedia article) Edited December 31, 2021 by The_Rev Link to comment Share on other sites More sharing options...
HanoiVillan Posted December 31, 2021 Share Posted December 31, 2021 2 hours ago, The_Rev said: There are definitely good use cases for them, property deeds are one I've heard, As always with 'decentralized finance', these use cases look to me more like post-hoc rationalisations for things people wanted to do anyway, rather than being needs or reasons that spurred the invention in the first place. 3 Link to comment Share on other sites More sharing options...
Kuwabatake Sanjuro Posted January 13, 2022 Share Posted January 13, 2022 A good basic explainer here. Link to comment Share on other sites More sharing options...
Kuwabatake Sanjuro Posted January 17, 2022 Share Posted January 17, 2022 Gobshites Link to comment Share on other sites More sharing options...
hogso Posted January 19, 2022 Share Posted January 19, 2022 (edited) On 17/01/2022 at 20:19, Kuwabatake Sanjuro said: Gobshites This is an interesting one. They seemingly have a whole bunch of money, but very little idea of how copyright law works. The book, as rare as it is, actually typically has a value of around £30k so they've vastly overpaid for it, the pages of one of the copies are already available online for everyone to look at for free, and they would still need to seek authorisation from the various interested parties in Jodorowsky's Dune (and there's a lot) to produce an animated series even simply 'inspired' by it. I'm not really sure how you support anyone by throwing money at a book you can't make any money from. The story of Jodorowsky's Dune is actually vastly more interesting than the NFT issue, as it happens. There's a documentary about it, check it out, fascinating story, especially if you're already aware of Jodorowsky's work. Edited January 19, 2022 by hogso 1 Link to comment Share on other sites More sharing options...
romavillan Posted January 20, 2022 VT Supporter Share Posted January 20, 2022 On 31/12/2021 at 22:59, HanoiVillan said: As always with 'decentralized finance', these use cases look to me more like post-hoc rationalisations for things people wanted to do anyway, rather than being needs or reasons that spurred the invention in the first place. Yeah that's necessarily true as all the DeFi stuff and the Web 3.0 stuff is about finding use cases for blockchain. Now all the ETH blockchain based things are proof of stake, rather than a coin with proof of work on it's own blockchain, you are seeing thousands of niche projects trying to find ways to use the tech. It's super easy to make a token based on someone else's blockchain (there are webapps to do it for you), it's super hard to have a well trusted efficient blockchain. So yep, it is all people post-hoc to the blockchain's invention looking for ways it might be useful. Link to comment Share on other sites More sharing options...
HanoiVillan Posted January 28, 2022 Share Posted January 28, 2022 stop the world, I want to get off 1 Link to comment Share on other sites More sharing options...
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