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So what do you people think of NFTs? Is anyone following that space?
It's taking off quite rapidly, curious if any of you guys are making some.
I just learned about NFT and I'm still confused. What's the point/benefit?
Nah, I'm not into beanie babies.
There is more to NFT than games and collectibles.
I have something brewing in that space. Can't wait to share.
The point of an NFT, is digital ownership of a digital item, unique or in limited supply, or simply as an authentication mechanism.
In simpler terms, imagine you can buy a sword on a game, that is really unique, but instead of just beeing in game, it is connected to your wallet and you can sell it / transfer it, and maybe that sword also works in other games, etc.
In the art world, it can combine proof of ownership and the art itself. You can for example issue a token when you sell an art piece, so you have cryptographic proof that you own an original, or the art itself might be contained in an NFT, or require that you have a certain NFT for the art to operate or whatever you can imagine.
In the short term, it is people abusing the vast amount of money thrown into the space. Huge opportunity for the art / design / media creator space.
Art = Collection
This batch is part of the first generation of NFTs, I'd imagine collectors of the future might be interested in some of those...
- Once minted, that item will also make you money in royalties with every resale.dopepope
- Meta verse here we come.jtb26
- what's interesting is the best use case for this is actually LEGO... Securing one of a kind LEGO model kits in limited numbers like the LEGO Creator Kits.jonny_quest_lives
- fortunately for us though LEGO is so nice they post all their instructions so you can build any of their released sets you're just responsible for the partsjonny_quest_lives
- Thx for this eskema.sea_sea
Imagine buying the new Call of Duty or Cyberpunk game (or whatever game you fellow kids play these days) with a crypto wallet. Now, the game comes with an NFT that allows you, because you have your wallet connected to your console, to play the game in any console you connect your wallet, but then, when shopping at another unrelated store, because you have that item in your wallet, it offers you a discount based on some other rules.
The possibilities become endless. Subscriptions, tickets, redeamables, everything you can imagine will have a digital token version associated with, programmable, auditable.
- sounds like tracking. china will love itimbecile
- you're already trackable at any point in time... at least crypto will bring untrackability to the tableESKEMA
- how would you say that's untrackable if said NFT stays associated with the digital token?imbecile
- monetizing digital content which players just love especially after paying nearly $70-80 for a game already... or $150 if you pre buy DLC's.jonny_quest_lives
- the crux is do players really care or value in game loot? i get the incentive for wanting ti lock loot behind a paywall or tokenization of the loot but playersjonny_quest_lives
- are starting to rebel against that model already and skins and rare weapons having serials or blockchain verification doesnt solve that hatejonny_quest_lives
- when peeps put money down for a game the expectation now is if the publisher pushes monetized post game release the publisher is greedyjonny_quest_lives
- if peeps are playing a free to play game the monetization of content is expected but still hated and the player still thinks the publisher is greedyjonny_quest_lives
- with crypto, the monetization happens on the player side, not the publisher. You own the item, not them.ESKEMA
- you assume dlc, skins, in game content is actually valuable once a player completes the game or moves on.jonny_quest_lives
- yes if the item has utility outside of the original game, which is the direction I see it going.ESKEMA
- i just think all the DLC stuff, skins, in game weapons just have a high burn rate... all loot games end up the same... just a vault full of trash...jonny_quest_lives
- Fortnite while popular and profitable for now isn't the real moneymaker for Unreal... licensing this bad boy is https://www.unrealen…jonny_quest_lives
- plus i am just a bit jaded as most dev monetization storefronts have been poorly implementedjonny_quest_lives
- Bungie sold their eververse in game market as a way for players to funnel money to Bungie so they could build players new levels, raids, crucible maps.jonny_quest_lives
- cosmetic items are just that cosmetic... if perk sets on items were transferable from game to game that could be interesting.jonny_quest_lives
- but developers would have to come up with a universal perk set behavior that was uniform across all games.jonny_quest_lives
- weapon loadout and behavior balancing is already a touchy subject and a lot of console players already h8 crossplatform play with pc gamersjonny_quest_lives
- on major franchises as the games are becoming unplayable with aimbots on the pc sidejonny_quest_lives
- i could see this NFT working really well in a Forza type environment though as rare car models/mechanics could be better balanced managed across releasesjonny_quest_lives
- and platforms. An OP legacy weapon carried across a first person shooter could be a game breaker though for players.jonny_quest_lives
- sounds like something passwords have done for decadesmonospaced
I have been getting into this world. It is real and getting realer because big money is moving into this space.
It is hard concept to get your head around....but I do not see it going away. I mean, Beeple made, what, $800,000 in one day. He was that goofy guy who made those surrealistic, weird 3D images every day.
Turns out his effort has made him some money...good for him.
I have been documenting it on my Tumblr blog if you are interested.
Hey crew - definitely loving this movement.
I was asked last year to join MakersPlace and have sold a few pieces. Mostly hand-drawn digital gifs: https://makersplace.com/jasonscu…
I was also accepted into Known Origin and just dropped the first 3D animated piece for bids: https://knownorigin.io/gallery/2…
Lastly, I'm starting to get involved with a group here in Japan as the market hasn't thrived yet and is the perfect breeding ground due to the immense talent pool.
My 2 cents:
If you are a digital creator (illustration or animation, etc.), it was challenging to find a place that welcomed you with open arms especially if you had the inclination to possibly sell the work.
Rather than aimlessly posting on social platforms that generate ungodly profits from their users without batting an eye, blockchain technology (smart contracts) allows artists to gain more control over the work they produce.
This tech is changing the digital landscape in any number of industries - finance especially - take advantage of it as a creator - there are collectors out there looking for the new hotness - seriously!
Here's a few spots if you don't already know:
These require a sign-up process (proof you're an artist and could take a long time - KO was the only one I could get into due to the waiting lists...)
This guide by Justin Cone may help you wrap your head around the concept of NFTs in general - it's a pretty cool overview:
Good luck to all you badass artists out there -
Find me on IG: https://www.instagram.com/jasons…
- Cheers for posting, will have a read through tonight.PhanLo
- Yeah dude - your work would kill! Very distinct ; )antimotion
- i applied last week... wonder if thats a good thing though. feels a little like the dot com boom - crash .. with all the shit hype.neverscared
- Oh nice! Hope you kill it!dopepope
I've been trying to get my head around this too. Nice post here that starts to explain it for me:
As I start to understand it, an unbreakable link to the truth of ownership aligns with the idea that a digital file becomes more valuable as its viewership increases. So the opposite of traditional value (especially in art) which lives in the idea of scarcity or uniqueness. Am I getting it?
My initial impression had been that it felt like another digital plaything, a token for speculation for those with more money than sense (or taste). This wasn't disabused by reading Coinbase's take on the matter, which ends with a bit on how speculation is "a critical function of a healthy economic system". Or the (putting it kindly) mixed quality of the art being exchanged via NFT.
Interesting stuff all the same.
Put the lolcube onto etherium, auction it off.
on Clubhouse, it's all the talk. Guess Capcom is diving in with Street Fighter, there is a push to get Fortnite in that area, and some toy companies are doing things. crazy, but love listening and learning.
i'm just like, so how do i get started. earn a couple tokens to buy a couple pieces.
you guys talk about "digital ownership of a digital item" while this guy just saved the image from that tweet and then reposted the saved screenshot for sale as a new NFT
- so even if the artwork is owned with a "contract" on the blockchain or whatever, who will enforce that contract? when anybody can just save the artwork anywaygrafician
- but sure, yeah, TO THE MOON or whatever, smhgrafician
- he created a new piece, it is not the same as the previous. Might even go higher than the original. What part of ownership of an original don't you understand?ESKEMA
- is a false mona lisa the same as the original?ESKEMA
- created a new piece? anybody can right click and save the "piece" then repost it, who says they can't do that? with digital files you copy/pastegrafician
- while you can't really copy paste the real Monalisa, surely you get itgrafician
- surely Zora or whatever marketplace can't verify the provenance of the artwork before minting? so you can just repost whatever you like, as the hash is differengrafician
- practically this guy milkshapes proved how stupid this NFT "solution" is with one tweet lol but sure, go ahead, invest more time into it, good luckgrafician
- You clearly have no grasp of the actual art world and what is art itself. And btw, I have bought zero NFTs, i'm not paying for this shit.ESKEMA
also another thing, when selling this "art" why not selling the source files?! a "client" pays in etherium for your EXPORTED artwork without owning the actual source files?
so anybody can and will make copies and resale
irl this is would be like you pay $1 bil. at auction for the Monalisa but you only get a printed copy from the Louvre souvenir shop to keep.
also why do you need to waste so much energy to mint this shit, when you can just start a normal website where you "sell" JPG files if you want and people just pay you real money, sure with $10 commission on future sales if that's the main selling point of this "technology"
oh well...all this feels like a real case of first world problems blown out of proportions
- Might be showing my age here on this one cuz i largely agree with you... I think you'd be better of self publishing a limited quantity book w paired thumbdrivejonny_quest_lives
- sort of like the 2021 version of:jonny_quest_lives
- "real money" lolESKEMA
- ^yeah that's something I would really pay real money forgrafician
- also what's up with not just supporting your fav artist on patreon?grafician
- oh yeah, it's the FOMO effect, cuz you seen the Ezras and the Rudnicks of the world getting crypto for weird graphics and you want to get rich quick too lolgrafician
- @ESKEMA yeah you need $ to buy ETH so ETH has 0 value without the $ backup aka the US's backup lolgrafician
- so how tf can this crypto shit replace money when the entire ponzi depends on more $ being poured in...grafician
- 10% commission* ofcgrafician
- you don't need money to get ETH or BTC. You could get work done and receive it as payment. It's the same as "real money".ESKEMA
- Because it's backed up by $ billions now. Remember when that guy got pizza for 10k BTC? Yeah back then crypto was worthless cuz nobody pumped itgrafician
- it wasn't worthless if it got 2 pizzas bought across the atlantic. I tought it wasn't backed by anything.. and yes, backing is only going to increase, by a lot.ESKEMA
- Minting is tokenizing the piece. Adding it to the blockchain. Giving it an address.BH26
Due to ETH ridiculous gas fees at the moment, you'd need to pay about $150 to mint a piece, for example at zora.gallery ( no signups required, just connect a wallet and off you go), so I think the whole Ethereum ecosystem is completely broken until this fees shitshow levels out. It's just stupid at this point. 1 year ago, the same action would have costed cents...
So if you still want to throw some money out to play a bit, you first need a wallet. My recommendation is Metamask. It's a browser extension, and you use it to connect to websites and dApps. Then, you need to have some $ETH on that wallet, so you'll need to get to an exchange and trade Dollars for Ethereum. Transfer the $ETH from exchange to Metamask (might have another fee here, depends on exchange). Go to https://zora.gallery/ , click connect wallet. Click Create, upload media, write some poetic shit about it, and pay the fucking fees. Pray for the process to sucessfully complete because if it fails, the gas fee is gone and you have accomplished nothing besides giving your money to some fucking miner.
- right, how can you do all this without power in your neighbourhood as the US is under the snowstorms rngrafician
- but you can paint a real painting under candle light and sell it tomorrow for cash if you want to, right?grafician
- just making a point, surely, good luck minting artwork brografician
- (oh obs I'm not ranting at you ESKEMA, just pointing how ridiculous this process can be for an artist)grafician
- You're missing the whole point, and I couldn't care less. It's your problem not mine. You'll have to deal with it eventually...ESKEMA
- Right. Please do tell how all this could work without crypto involved then I'll bite.grafician
Jerry Saltz, the famous art critic, just threw down on Beeple.
This should interesting, right about now
"Well I looked up Beeple; just really really derivative Sci-Fi and Conan and Star Wars crapola as far as imagery and imagination go. Whatever the medium, they’re just bad kitsch."
I am going to just take a guess and say that I think a lot of this if fueled by people who bought ETH early, probably just average working stiffs, developers, or whatever, and are now swimming in the stuff....it has risen about 5x in six months......
so to them it is like playmoney and they are just buying NFTs because it is a cool thing to do and their friends are doing it.
The idea of this collapsing does not occur to then
Just like 2001
- the concept is here to stay, ethereum on the other hand may very well crashESKEMA
- if that's the case then even if it does crash they won't lose any real money. and as long as they cash out, the artists get serious $. everyone wins.hans_glib
- ethereum is Silicon Valley money and mindset, go fast and break things, even if it's their own shit they're breaking, they don't care.ESKEMA
- Bitcoin is very different mindset and culture, and Cardano will eat eth's lunchESKEMA